- Ripple CEO Brad Garlinghouse raises alarm over increasing XRP scams following a major YouTube hack.
- Indian Supreme Court’s YouTube channel was hacked, renamed, and used to promote fraudulent XRP schemes.
- Generative AI technology is enabling sophisticated crypto scams, making them harder to detect and prevent.
Brad Garlinghouse, the CEO of Ripple, has voiced deep frustration over the increasing number of scams targeting XRP users. His comments come after a recent hacking incident involving India’s Supreme Court YouTube channel, which scammers infiltrated to promote XRP-related fraud.
The hacked channel, usually reserved for broadcasting high-profile cases, was renamed “Ripple.live24” and featured a fraudulent video endorsing XRP. The video, titled “Brad Garlinghouse: Ripple Responds To The SEC’s $2 Billion Fine! XRP PRICE PREDICTION,” was live shortly before it was taken down.
The video, with an image of Garlinghouse as its thumbnail, appeared credible to unsuspecting viewers. Fortunately, both the fraudulent video and the renamed channel were quickly removed.
The Indian Supreme Court promptly released a statement to the public, confirming that the YouTube channel had been taken down and promising its return soon.
Garlinghouse took to Twitter to express his frustration and strongly warned XRP holders. He emphasized that neither he nor Ripple would ever ask the community to transfer XRP tokens to any wallets, a common strategy used by scammers.
To protect users, Garlinghouse urged XRP holders to recognize potential scams using a “stop, spot, and avoid” approach.
Moreover, the incident highlights the growing sophistication of cryptocurrency scams. Scammers increasingly use generative AI tools to create more convincing and elaborate fraud schemes.
In one notable instance, a deepfake video of Garlinghouse was used to promote an XRP giveaway scam. This technological advancement makes it more challenging to distinguish legitimate content from fraudulent schemes.
Ripple’s CEO has long been critical of platforms like YouTube for not doing enough to stop such scams. In April 2020, Garlinghouse sued YouTube for allowing fraudulent activities related to XRP to flourish on its site.
Even though both parties settled in 2021, this recent case highlights the ongoing challenge of stopping scams in the crypto world, especially as scammers now use AI tools to trick people.
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