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A deepfake scam impersonating CEO Brad Garlinghouse is the subject of a warning from XRP Ledger, which urges the community to report scams and avoid participating in fake incentives.
A new deepfake scam targeting XRP holders has emerged, the forensics team of the XRP Ledger Foundation warned.
A deceptively realistic video impersonating Ripple CEO Brad Garlinghouse is utilized to promote a fake XRP giveaway as part of the scheme.
By sending a minimum of 1,000 XRP to the fraudulent address, the deepfake video allows unsuspecting viewers to double their XRP while faithfully imitating Garlinghouse’s voice and appearance.
This deceitful “community support initiative” aims to dupe individuals into divulging their financial resources.
As a result, XRP forensics has issued an urgent warning to the community regarding this deepfake scam and the need to avoid “free money” offers.
A counsel for XRP holders, John Deaton, has also drawn attention to the fraudulent video, advising that anyone requesting access to cryptocurrency or a wallet is most likely a fraudster.
This alert is issued at a time when cybercriminals are employing more sophisticated methods to defraud crypto investors.
Following the introduction of the Xahau network, XRP forensics recently advised users against disclosing their keys, citing the absence of legitimate airdrops or giveaways.
Despite the achievements of Ripple, malicious actors have persistently targeted the XRP community.
The recent 2023 Swell in Dubai drew attention to the expansion of Ripple, attributing it to Dubai’s pro-innovation regulatory environment, as stated by CEO Brad Garlinghouse.
To increase the likelihood of successful deception and legitimize their schemes, con artists exploit current events and news pertinent to the XRP community.
The XRP forensics team emphasizes that schemes that make extravagant returns or guarantee “free money” should be considered fraudulent.
Holders of XRP are cautioned to remain vigilant regarding these fraudulent schemes and never to divulge their credentials or cryptocurrency to strangers.
As the technology for creating deepfakes develops, cryptocurrency investors must be ever more vigilant.
Scammers will persist in innovating and refining their methods to execute fraudulent schemes.
The best defense is to remain informed and skeptical of anything that seems too good to be true.
To assist law enforcement in identifying and prosecuting cybercriminals who seek to profit from deception and theft, the XRP community is urged to report any suspected scams.
Awareness and vigilance can mitigate the effects of these fraudulent schemes.