Brad Garlinghouse, CEO of Ripple, expressed concern about the increase in fraud related to the XRP token on the video platform YouTube. This statement was made against the backdrop of a recent rise in XRP prices.
Warning About XRP Scams
Garlinghouse noted that the uptick in fraudulent schemes coincided with the recent price surge of XRP. He urged users to be vigilant and report suspicious accounts.
Scammers' Methods
Scammers often steal accounts and update pages to impersonate Ripple executives, using artificial intelligence to create more believable content. They organize fake XRP giveaways to steal cryptocurrency from holders.
The YouTube and Ripple History
It is worth noting that Ripple sued YouTube in 2020 over the platform's reluctance to tackle cryptocurrency fraud. At that time, there were already numerous XRP giveaway videos. However, the rise of AI has made combating such schemes more difficult. Ripple dropped the lawsuit the following year but has since repeatedly voiced concerns about the proliferation of crypto scams.
In light of the growing dangers of fraud in the cryptocurrency space, users are advised to remain vigilant and cautious. Ripple officials will continue to inform the public about such threats.
