In a recent appearance on the X platform, Ripple CEO Brad Garlinghouse voiced his apprehensions regarding the proliferation of deepfake scam videos on YouTube. He cited a specific incident where old video footage from Ripple’s events was manipulated, overlaying new words to create a deceptive narrative.
Expressing his concern directly to the video hosting giant, Garlinghouse questioned their vigilance, urging them not to be complacent. He emphasized the importance of public caution, advising individuals not to blindly trust content and to verify all messaging. He further made it clear that users should rely only on official Ripple accounts for authentic information.
A disconcerting scam involving the Ripple-affiliated XRP cryptocurrency surfaced on social media. The scammers utilized AI technology to craft a remarkably convincing imitation of Garlinghouse. This deepfake scam further lures viewers with a fabricated XRP giveaway, prompting them to send a minimum of 1,000 XRP in anticipation of receiving double the amount in return.
The deceptive video, featuring a voice closely resembling Garlinghouse’s, falsely presents this offer as a community support initiative. Although some XRP enthusiasts noticed anomalies in the video’s mouth movements, the scam’s advanced nature underscores a troubling trend of exploiting AI to replicate the voices of public figures.
Ripple has a history of legal action against YouTube for mishandling fraudulent content, previously settling a case where the platform acknowledged the need for improved measures. Recently, Ripple CEO Garlinghouse criticized YouTube for potential inaction against deepfake scams, raising uncertainty about a possible legal confrontation.
Fake Blackrock XRP Fund Filing
A filing for a BlackRock Inc fund centered on the cryptocurrency XRP appeared on the official Delaware website, responsible for registering investment trusts incorporated in the state. This development briefly boosted the XRP token. However, the catchcatch is that BlackRock was not the entity behind the submission.
The Delaware Department of State’s Division of Corporations website, which has previously listed other trusts applied for by the asset manager, displayed details for something called the “iShares XRP Trust” registered to BlackRock on Monday. A spokesperson for BlackRock confirmed the misinformation.
Upon the news of the false filing circulating on social media, XRP experienced a temporary spike of nearly 13%, only to give back those gains and trade lower for the day.