A fake video of Ripple CEO Brad Garlinghouse is making its way across the web
There’s a new cryptocurrency scam out there that is taking scams to a new level. Reddit users are talking about a deepfake video showing Ripple CEO Brad Garlinghouse requesting that XRP holders send their cryptocurrency to a specific address, with promises to return double their investment, a familiar strategy used to commit fraud.
A user of the online platform reported in a Reddit thread that they saw the ad on YouTube as early as November 25 and December 3, with other Reddit users declaring they had seen comparable advertisements on the forum and reported them.
The video appears to show an AI-generated likeness of Garlinghouse inviting observers to partake in an XRP event and saying they should transfer tokens to a “designated address.” The character in the video promises to return “double the amount” in the bogus giveaway.
Ripple chief technology officer David Schwartz cautioned investors on July 14 about an increase in XRP fraud after a court ruling in the firm’s favor in its fight with the US Securities and Exchange Commission (SEC). Schwartz said Ripple is conducting no special offers, airdrops, or giveaways after the ruling.
While the video has indicative signs of an attempt to defraud crypto users, one Reddit user contends that Google has declined to take down the ad. The user shared a screenshot of the Google Trust and Safety Team’s response, saying they chose to let the ad remain on the platform. The screenshot shows that the Google team communicated that the advertisement wasn’t violating their policy, instructing the user to provide more info within the next six months.
The video received over 17,000 views, but it’s no longer searchable on YouTube. Reddit users instructed the crypto community not to use the video’s QR code to prevent losing their funds.
Emma Rodriguez is the Proofreader at the Big Blind, with seven years of experience and five years in online gambling. She plays a crucial role in maintaining content quality by ensuring error-free, reader-friendly information about the gambling industry.
