XRP News Today: "Deepfakes and Scams: How XRP Holders Are Becoming Targets of High-Tech Fraud"

Ripple's chief technology officer, David Schwartz, has issued a warning about a deepfake scam involving CEO Brad Garlinghouse, following the circulation of a manipulated video. In the video, Garlinghouse is falsely depicted as endorsing a fraudulent scheme related to XRP, potentially misleading community members into sending cryptocurrency to fake wallets [2]. Schwartz shared a GIF alerting XRP holders to the scam and emphasized the growing threat of impersonation fraud, where digital manipulation is used to deceive investors [2]. The scam involves the creation of fraudulent websites and social media accounts that mimic legitimate Ripple branding and messaging [2].

This incident highlights the increasing sophistication of cybercriminals in the cryptocurrency space. Deepfake technology allows scammers to alter real footage of industry figures, making it difficult for investors to distinguish between authentic and fraudulent content [2]. The manipulation often includes fabricated investment opportunities or "giveaways" that require users to send XRP to specific wallet addresses under false pretenses [2]. Ripple has taken proactive steps to address these threats, recently joining TRM Labs' Beacon network. The platform is designed to provide real-time crime response and enhance security measures in the crypto ecosystem [2].

Garlinghouse has directly advised XRP holders to remain vigilant, stating that Ripple and its leadership would never solicit XRP transfers or promote unsolicited investment schemes [2]. Scammers are also creating fake YouTube accounts and live streams to mimic Ripple's communication style, often using urgent language and false promises of high returns to pressure victims into transferring funds [2]. These tactics exploit the trust associated with well-known brands and individuals, making it crucial for investors to verify the authenticity of any communication before taking action [2].

The rise of XRP-related scams has also prompted increased scrutiny of fraud prevention mechanisms. In the UK, victims of Authorised Push Payment (APP) scams may be eligible for refunds through their banks or payment providers, provided they acted responsibly and reported the incident promptly [1]. However, many victims report that refund requests are denied due to insufficient evidence or failure to meet specific conditions [1]. In such cases, alternative options like challenging the decision through the Financial Ombudsman Service or seeking specialized legal assistance may be available [1]. Action Fraud and other support services also play a key role in helping victims report and document incidents, potentially improving the chances of recovering lost funds [1].

The broader landscape of XRP scams includes a range of deceptive practices, from phishing websites to fake investment schemes and impersonation fraud [1]. One illustrative case involved a scammer who created an elaborate online persona, impersonating a reputable tech startup and convincing a victim to send XRP under the guise of investing in a "blockchain service" [1]. Such cases demonstrate the ease with which scammers can exploit trust and technological tools to manipulate victims. As a result, Ripple and other industry stakeholders are focusing on education and awareness to mitigate these risks [2].

To protect themselves, XRP holders are advised to recognize common warning signs of scams, such as unsolicited contact, high-pressure tactics, and requests for payment in XRP only [1]. Prompt reporting to authorities and immediate documentation of all relevant information are also critical steps in minimizing financial losses [1]. With the growing use of deepfake technology and other advanced methods, the need for robust security measures and investor education has never been more urgent [2].

Source:

[1] XRP Scams (https://www.actionfraud.org.uk/crypto-scams/xrp-scams/)

[2] Ripple CEO Deepfake Alert: Scammers Exploit XRP Hype (https://www.fxleaders.com/news/2025/09/07/ripple-ceo-deepfake-alert-scammers-exploit-xrp-hype/)