New AI Scam Targets Ripple’s XRP Holders, Sentiments To Plunge? ⋆ ZyCrypto

A new artificial intelligence (AI) scam targets XRP holders, similar to the previous scam of a fake Elon Musk. Crypto users lament the proliferation of scams within the digital assets community, citing a lack of development. Global regulators have ramped up efforts to tackle infamous incidents, rolling out new guidelines and clamping down on bad actors.

AI Scam Targets XRP Holders

An artificial intelligence video making rounds on YouTube features a fake Chris Larsen, the co-founder of Ripple Labs. Similar to an incident involving billionaire businessman Elon Musk, this video shows Larsen offering to give XRP to the community. According to the video, the Rippe co-founder was made to say that rather than burning 150 million XRP times as usually done, the company plans to give it to the community. 

The crypto community was urged to visit a purported site to jump on the “historic opportunity” with a chance to double their holdings. According to crypto experts, users are also likely targeted through email with an XRP ledger address to send funds. This adds to the growing list of scams targeting the industry this year, as funds sent to the address will be lost. 

Despite this attempted scam incident, sentiments toward XRP remain high, as it moved upward in the past 24 hours. XRP trades at $0.5462 amid a recent correction by other assets. Around social spaces, users were urged to maintain vigilance to spot possible AI and phishing scams. Phishing scams have plagued the market, causing many assets to be lost over the years.

A Drop In Global Sentiment 

A major effect of crypto scams is the low sentiments of investors following infamous incidents. This would also lead to reduced price growth, even in a bull cycle. The fear of losing assets due to bad actor activities needs to be curtailed to new lows. Aside from this, authorities roll out new rules to protect investors, which many term as effective but limiting in some cases. 

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This year, a fake AI livestream surfaced, purportedly featuring Elon Musk promising free Bitcoin posted on a fake Tesla channel. “I’ve had people call me telling me Elon Musk is giving free Bitcoins away at Bitcoin ‘24. No wonder they have a fake live stream with a dubbed voice-over and 70k+ (fake) people watching the live stream.”