Ripple CEO Brad Garlinghouse has issued a strong warning to XRP investors about a rising wave of scams targeting the community. As XRP reaches a new all-time high, fraudsters are taking advantage of the hype by offering fake investment opportunities.
Garlinghouse used X to warn users against fake YouTube accounts pretending to be Ripple. He said that these frauds are utilizing deepfake videos of Ripple executives, such as himself, to advertise fraudulent XRP giveaways.
The victims are misled into sending XRP with the hope of getting more back, but they lose their money. “We’ve noticed an uptick of XRP scams on YouTube,” Ripple stated in a public advisory. “Scammers are stealing accounts and impersonating Ripple’s official page.”
This surge in scams follows XRP’s price rally and Ripple’s recent regulatory wins. On-chain activity on the XRP Ledger has also seen a sharp rise, making it a hot target for bad actors.
Ripple previously reminded users that no executive will ever ask for XRP from the public. The company has encouraged investors to report any suspicious content or fake accounts promoting investment offers.
Meanwhile, Ripple is also facing pressure from the American Bankers Association (ABA), which is pushing regulators to block Ripple’s efforts to gain a banking license. Pro-XRP lawyer John Deaton has criticized the ABA’s stance, calling it anti-innovation.
With XRP gaining momentum, Garlinghouse has urged the community to stay alert and avoid falling for fake giveaways. “Don’t trust, verify,” he warned.
Also Read: Ripple SEC Case Update: Judge Torres Signs Memo Endorsement, XRP Price to $15?
