• A highly realistic deepfake video impersonating Ripple CEO Brad Garlinghouse has surfaced, aimed at deceiving XRP investors.
  • The video features a voice that accurately mimics Garlinghouse and promotes a fake “community support initiative” promising to double XRP deposits over 1,000.
  • This marks an alarming development in scam tactics, with scammers using deepfake technology to deceive victims.

A highly realistic deepfake video impersonating Ripple CEO Brad Garlinghouse has recently emerged, attempting to deceive XRP investors into participating in a fake giveaway scam.

The video, featuring a voice that accurately mimics Garlinghouse, promotes a fraudulent “community support initiative” that promises to double any XRP deposits over 1,000.

This deception tactic marks an alarming new development as scammers become more sophisticated in their methods to ensnare victims. The XRP Ledger Foundation’s forensics team has urgently warned the community about such deepfake scams and stressed that any promotions of “free money” or “quick returns” should be considered highly suspicious.

Scam underscores ongoing threat to XRP community

This scam underscores the ongoing threat that bad actors pose to the XRP investor community. Last month, the XRPL forensics team cautioned users not to share keys or seeds during the Xahau network launch, reminding them that airdrops and giveaways are often a trap.

As scammers become more technologically proficient in creating convincing fake videos and voices, all crypto investors need to be wary of increasingly sophisticated social engineering tactics. The deepfake giveaway scam shows that even mimicking a well-known industry figure’s speech and mannerisms is within reach for malicious actors.

The XRP community is urged to stay vigilant, be skeptical of “too good to be true” offers, and never provide keys or personal information to unknown parties.

As con artists develop more advanced tools, it is more crucial than ever to rely on best security practices and conduct due diligence on any crypto-related opportunity. Investors should constantly be on guard against individuals or groups seeking to illegally profit from deception and theft.