Ripple CEO Impersonation Scam Busted by CTO Schwartz

Ripple CTO David Schwartz flagged an impersonation scam involving Ripple CEO Brad Garlinghouse. Schwartz called out the scam and issued a warning to the XRP community after an X user tweeted a fake video of Garlinghouse. Scammers often use deepfakes to produce fake videos and promote fraudulent websites, urging users to be cautious when asked for financial details. Ripple recently joined TRM Labs' real-time crypto crime response network, Beacon.

Ripple CTO David Schwartz recently flagged an impersonation scam involving Ripple CEO Brad Garlinghouse. The warning was issued after an X user tweeted a fake video of Garlinghouse, highlighting future plans for XRP. Schwartz promptly responded with a "scam alert" GIF, urging caution within the XRP community.

Scammers often use deepfakes to create convincing fake videos featuring high-profile figures like Garlinghouse. These videos are then used to promote fraudulent websites and crypto wallets, with the intent to steal funds from unsuspecting users. Schwartz's warning serves as a reminder to always be vigilant when sharing financial details, even if the request appears to come from a reliable source.

Ripple has taken proactive measures to combat these scams by joining TRM Labs' real-time crypto crime response network, Beacon. This network enables real-time monitoring and response to crypto-related crimes, helping to protect users and maintain the integrity of the crypto ecosystem.

References:
[1] https://u.today/ripple-ceo-scam-busted-by-cto-alert-goes-out-to-xrp-community
[2] https://www.marketscreener.com/news/investor-deadline-approaching-faruqi-faruqi-llp-investigates-claims-on-behalf-of-investors-of-cto-realty-growth-302546972.html