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Ripple CEO Warns of Deepfake XRP Scams as Token Surges to $3.10, Crashes
Despite the recent surge in popularity and price volatility, Ripple’s XRP has found itself at the center of a more pressing issue: scams. Specifically, deepfakes have emerged as a significant threat to investors, prompting CEO Brad Garlinghouse to sound the alarm.
The latest reports indicate that cybercriminals are hijacking YouTube channels, rebranding them to mimic Ripple’s official presence, and tricking viewers into fraudulent XRP giveaway schemes. Moreover, AI-generated deepfake videos of Ripple executives have also been used to lend authenticity to these scams.
In a bold warning, Garlinghouse took to social media platforms, emphasizing that “Ripple or our execs will NEVER ask you to send us XRP.” This stark reminder serves as a crucial cautionary measure against the growing threat of deepfake XRP scams.
XRP’s sudden spike in value has only fueled the problem, with scammers using this recent surge in popularity to entice unsuspecting investors into parting with their hard-earned coins. The CEO’s words echo the sentiment that “if it sounds too good to be true, it probably is.”
The ripple effect of these scams can have far-reaching consequences for the cryptocurrency landscape as a whole. As the price of XRP has continued to crash by 10.24%, the ripple effect on other assets remains uncertain.
Despite the recent market volatility and regulatory uncertainty surrounding Ripple’s RLUSD stablecoin, proponents continue to advocate for the token’s long-term potential. Some even forecast prices to reach as high as $5 or a staggering $30 in the near future.
Source: ambcrypto.com
