A deepfake video has surfaced on YouTube, raising concerns within the crypto community as it depicts a digital imitation of Brad Garlinghouse, the CEO of Ripple, making an unrealistic request to XRP holders. The video encourages users to send their XRP tokens to a specified digital wallet with the promise of receiving double the amount in return – a tactic commonly used by online scammers.
Members of Reddit noticed the deepfake video, which shows an AI-generated Garlinghouse and invites viewers to participate in an XRP event. However, the catch is that participants are asked to send their tokens to a “designated address” for a supposed giveaway where the character pledges to return double the amount.
Reddit commentators first brought attention to this misleading advertisement on YouTube between November 25 and December 3. Despite user flags and reports, the deceptive ad has persisted on the platform. Redditors shared an unlisted link to the deepfake ad on YouTube, cautioning the community to avoid interacting with the video’s QR code to prevent potential financial losses.
Ripple Executive’s Prior Warning
This incident follows a warning from Ripple’s Chief Technology Officer, David Schwartz, issued on July 14. Following a court ruling in favor of Ripple in its battle with the Securities and Exchange Commission (SEC), Schwartz emphasized that there were no associated airdrops, giveaways, or special offers linked to the judgment. This recent deepfake video mirrors the scam tactics Schwartz cautioned against.
Ripple CEO Brad Garlinghouse, no stranger to such deepfake scams, had previously highlighted the growing trend of such videos on YouTube. In the past, scammers overlaid new words onto old video footage from Ripple’s events, creating deceptive content. Garlinghouse called out YouTube, questioning if the video-hosting service was “asleep at the wheel again” and urged users to be vigilant against circulating messages.
There’s been an uptick in deepfake scam videos (ex below) overlaying new words with old video footage from Ripple’s events (@YouTube are you asleep at the wheel again?!). Reminder: don’t trust, verify (all approved messaging will only come from official Ripple accounts). pic.twitter.com/e30ZhOk6DW
— Brad Garlinghouse (@bgarlinghouse) November 13, 2023
In light of these events, Garlinghouse emphasized that only approved messages from official Ripple accounts could be considered authentic, underscoring the need for caution and verification in the face of potential scams.
Despite clear evidence of the video’s fraudulent nature, a Reddit participant revealed that Google refused to remove the deceptive ad. The feedback from Google’s Trust and Safety team suggested that the ad did not violate their protocols.
