Recently, a Reddit user uncovered a deepfake video featuring Brad Garlinghouse, the CEO of Ripple, promoting a scam targeting XRP holders. The deceptive video urged viewers to send their XRP tokens to a specified address, promising to return double the amount—an infamous tactic used by scammers. The user reported encountering the ad on YouTube, with sightings noted as early as November 25 and December 3. Other Reddit users corroborated similar encounters with these fraudulent ads on the platform, prompting collective reports and discussions within the community.
The deepfake video displayed an AI-generated likeness of Garlinghouse, encouraging participation in an XRP-related event by sending coins to the mentioned address. However, this was a fraudulent ploy promising doubled returns as part of a fake giveaway scheme, exploiting the trust of unaware cryptocurrency holders.
In a cautionary statement on July 14, Ripple's Chief Technology Officer, David Schwartz, cautioned investors about the proliferation of XRP-related scams following a legal victory against the U.S. Securities and Exchange Commission (SEC). Schwartz explicitly stated that the company had no association with airdrops, giveaways, or special offers, particularly in connection with the legal ruling.
Despite the glaring indicators that the video was a deceptive advertisement targeting cryptocurrency users, a Reddit user claimed that Google declined to remove the ad. The user shared a screenshot of Google's Trust and Safety team response, citing a decision not to take down the ad, stating it did not violate their policies. Google requested additional information within six months, raising concerns among the Reddit community about the platform's response to such deceptive content.
Furthermore, Reddit users shared a link to an unreleased deepfake ad on YouTube, which, despite not being searchable on the platform, garnered over 17,000 views at the time of reporting. Members of the Reddit community advised caution, urging others to refrain from interacting with the video's QR code to prevent potential financial losses and discourage engagement with fraudulent schemes.
