Ripple CEO scam busted by CTO, Alert goes out to the XRP community

In a recent X conversation, Ripple CTO David Schwartz flagged a spoofing scam that included Ripple CEO Brad Garlinghouse. X users tweeted a scam video from Ripple CEO Brad Garlinghouse, highlighting XRP’s future plans.

Schwartz immediately called the scam, responding to the tweet with a GIF image carrying a “scam alert” and as a result, warning the XRP community.

Recently, there has been an increase in scammers who are pretending to be the top personality in the crypto sector, including Ripple CEO Brad Garlinghouse. Bad actors often use legitimate videos from public speaking events of these famous figures, and often use overlay scam content that leads to fake websites and crypto wallets that try to steal funds.

Scammers also often date videos to create deepfakes. In this context, we use the similarity of Ripple CEO Brad Garlinghouse to promote fraudulent websites.

Issued warning

Deepfakes are often hard to identify and may not be identified by unsuspecting users, which contributes to the spread of misinformation, cryptographic fraud and other fraudulent behavior.

In many cases, posts tell users to a fake web domain with a published “send” wallet address.

As a safety measure, users are urged to be cautious whenever they ask for financial details, even if they believe they come from a reliable source or someone they know.

Last month, Ripple announced it had joined TRM Labs’ real-time crypto crime response network, Beacon.