Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse, has issued a serious warning to XRP investorsamid a surge in scam activity targeting investors across social media platforms like YouTube. The alert follows increasing reports of fraudulent accounts impersonating Rippleand its executives, with the aim of tricking users into sending their XRP. Ripple Warns Investors Of Rising XRP Scams
On July 23, Garlinghouse took to X social media to raise the alarmon a sharp rise in XRP scams, urging investors and community members to stay alert. According to the Ripple CEO, scammers are capitalizing on market momentum and community excitement to ramp up impersonation schemes, particularly targeting unsuspecting XRP holders. Related Reading Ripple CEO Sounds Alarm: If You’re An XRP Investor, You Should See This 3 hours ago
One of the most notable developments flagged by Garlinghouse is a recent surge in fraudulent activity on YouTube, where scammers have taken over existing channels, rebranded them to resemble recognized Ripple accounts, and begun promoting misleading content that impersonates the crypto company and its executives.
In its official X account, the Ripple team stressedthat these YouTube accounts are legitimate and do not belong to the crypto firm, despite appearing convincing. In many cases, the usernames have been altered to mimic the company’s official handles, often making it difficult for unsuspecting users to identify the deception.
These scam videos frequently promise giveaways, rewards, or investment multipliers, usually asking users and investors to send XRP in exchange for a larger return. Garlinghouse has emphasized that neither he nor Ripple will ever request XRP from anyoneunder any circumstances.
To combat the growing threat of skyrocketing crypto scams, Ripple is actively and aggressively reporting these fraudulent accounts and encouraging its community to do the same. The company has reiterated that its official channels remain the only trusted sources of communication and provides a direct reminder to always verify account handles and links before engaging. Notably, Garlinghouse concluded his post with an important reminder to stay vigilant against avoidable losses. He warned that “if it sounds too good to be true, it probably is.” Ripple Alert Highlights Broader Threat Amid Market Recovery
Beyond the immediate focus on the YouTube impersonation scams, Garlinghouse’s report touches on a broader trend of escalating crypto fraudthat tends to spike during periods of market recoveryor growing optimism. This pattern, described by the Ripple CEO as “like clockwork,” suggests that malicious actors closely monitor community sentiment and time their campaigns to exploit emotional and financial excitement. Related Reading XRP Transactions Barrels Over $1 Billion To Monthly Highs, Are Whales Driving The Next Leg? 5 days ago
In a broader context, the rise in XRP scams has coincided with the recent surge in the altcoin’s price to above $3.6. Additionally, they come after bullish news like Ripple’s growing regulatory clarity and legal win against the US SEC. As the XRP price inches closer to ATH levels and gains more momentum, bad actors are leveraging this wave of optimism to cast a wider net, targeting investors through sophisticated scams and fraudulent schemes. XRP trading at $3.16 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com