Ripple, the blockchain firm behind XRP, has issued a warning to the crypto community regarding an increase in scams following the significant price rally of the digital asset.
In a recent update on X (formerly Twitter), Ripple made it clear that they will never request XRP transfers from users. The company emphasized that this policy extends to all of its executives, including CEO Brad Garlinghouse and CTO David Schwartz.
The message from Ripple stated, “Uptick in the crypto market means uptick in scams—reminder that Ripple will never ask you to send XRP, and neither will Brad, David, Monica, Stu, or anyone else from Ripple.”
Furthermore, Ripple shared a video showcasing how scammers are using deepfake technology to impersonate top leaders within the company. This video contrasts a legitimate message from Garlinghouse with a fraudulent deepfake soliciting XRP.
This warning aligns with previous alerts from Garlinghouse regarding the rise of deepfake scams, particularly those promoting fake XRP giveaways. The prevalence of these scams has been increasing, with some scammers even editing old footage to deceive victims.
Ripple is actively fighting against these crypto scams by taking proactive measures. The company monitors and reports suspicious activities to relevant authorities and collaborates with blockchain partners to combat fraudulent schemes.
Users are advised to remain vigilant by verifying claims through official channels, using updated browsers with built-in security features, and trusting their instincts when faced with offers that seem too good to be true.
If individuals suspect they have encountered crypto crime or fallen victim to cryptocurrency fraud or scams, Ripple encourages them to report the incident to local government and law enforcement agencies.
This cautionary message comes at a time when XRP’s price has experienced a remarkable rally, reaching $2.68, its highest level since January 2018. The asset has surged by 436% over the past month, including an 87% increase in the last week and a 10% gain in the past 24 hours.
Market analysts attribute this upward trend to optimism surrounding Ripple’s legal battle with the Securities and Exchange Commission (SEC) and the anticipation of spot XRP exchange-traded funds (ETFs) launching in the United States.
In conclusion, Ripple’s warning about deepfake scams amidst the surge in XRP’s price serves as a reminder for the crypto community to remain cautious and vigilant in order to protect themselves from fraudulent schemes.