XRP News Today: Ripple CEO Warns XRP Holders of YouTube Scams as Price Drops 10.22% Amid Fraud Surge

Ripple CEO Brad Garlinghouse has issued a direct warning to XRP holders about a surge in scams exploiting YouTube to deceive users, with the company emphasizing the need for heightened vigilance. The alerts follow reports of scammers leveraging deepfake videos, impersonated accounts, and fake giveaways to trick investors into transferring XRP tokens. Ripple confirmed that fraudulent actors are hijacking active accounts, rebranding them to mimic official Ripple branding, and disseminating misleading claims about “doubling” XRP holdings through fake promotions [1].

Garlinghouse highlighted the risks in a public message on X, urging the community to avoid sending XRP to unverified wallet addresses. The CEO reiterated Ripple’s 2020 lawsuit against YouTube over platform failures to address similar scams, underscoring the persistent threat despite previous legal actions [2]. Scammers are reportedly using AI-generated content to impersonate Garlinghouse and other Ripple representatives, creating a sense of urgency around non-existent opportunities. This has led to a spike in phishing attempts, with compromised channels promoting malicious links disguised as legitimate project announcements [3].

The scams have coincided with increased XRP activity, including a recent $175 million transfer of the token by Ripple co-founders, raising questions about market dynamics amid the security concerns [4]. While Ripple did not directly link the fund movements to the scams, the timing has amplified investor anxieties. AInvest reported a 10.22% drop in XRP’s price on July 11, coinciding with the surge in scam alerts, though it remains unclear whether the decline was driven by the frauds or broader market sentiment [5].

Ripple’s warnings align with broader industry concerns about crypto-related frauds, particularly on platforms like YouTube where impersonation tactics are increasingly sophisticated. The company has advised users to verify the authenticity of all communications and avoid engaging with unverified accounts. Garlinghouse’s direct appeals to the community reflect Ripple’s ongoing efforts to protect XRP holders while navigating regulatory challenges in the cryptocurrency sector.

The latest alerts follow a pattern of similar incidents in July, with Ripple issuing multiple statements over two weeks to address the evolving threat. Analysts have noted that the frequency of such scams underscores the need for improved platform accountability and user education, though no concrete solutions were outlined in the recent statements. Ripple’s legal actions and public warnings signal a strategic focus on damage control, even as the company faces broader scrutiny over XRP’s regulatory status in key markets.

Source:

[1] [Ripple Issues Red Alert as XRP Scams Resurface](https://www.ccn.com/news/crypto/ripple-red-alert-xrp-scam-brad-garlinghouse/)

[2] [Ripple Warns XRP Holders of YouTube Impersonation Scams](https://www.ainvest.com/news/xrp-news-today-ripple-warns-xrp-holders-youtube-impersonation-scams-6-price-drop-2507/)

[3] [Ripple CEO Garlinghouse Sends Warning Message to XRP Holders](https://timestabloid.com/ripple-ceo-garlinghouse-sends-warning-message-to-xrp-holders/)

[4] [Ripple co-founder moves $175M in XRP in a week amid scam surge warnings](https://cryptoslate.com/ripple-co-founder-moves-175m-in-xrp-in-a-week-amid-scam-surge-warnings/)

[5] [XRP Drops 10.22% Amid Ripple’s YouTube Scam Alert](https://www.ainvest.com/news/xrp-drops-10-22-ripple-youtube-scam-alert-2507/)