Ripple CEO Brad Garlinghouse has warned investors about a significant escalation in XRP-related scams, directly tied to the cryptocurrency's recent price rally and regulatory victories. Scammers are deploying sophisticated tactics including deepfake videos impersonating Garlinghouse and CTO David Schwartz, fake social media accounts mimicking Ripple's official channels, and fraudulent promises of XRP airdrops requiring token deposits.
The surge follows XRP hitting all-time highs and increased activity on the XRP Ledger, with fraudsters specifically targeting YouTube by hijacking and rebranding channels to resemble Ripple's profile. Garlinghouse emphasized that Ripple executives never solicit XRP from users and stated, "As always, if it sounds too good to be true, it probably is." Ripple's leadership urges immediate reporting of suspicious activity and confirms legitimate giveaways are only announced through official channels.
Historical patterns show similar scam waves after legal wins, underscoring the need for heightened community vigilance and regulatory scrutiny. While the scams exploit XRP's momentum, no impact was noted for other cryptocurrencies like Bitcoin or Ethereum.