A new scam involving Ripple-affiliated XRP cryptocurrency has surfaced on social media platforms. The scam, alarmingly sophisticated in its execution, utilizes AI technology to imitate Ripple CEO Brad Garlinghouse’s voice and image, aiming to mislead users into believing in a non-existent XRP giveaway.
Nature of scam
The scam lures victims with a seemingly generous offer: Send a minimum of 1,000 XRP and receive double the amount in return.
The scam video features Garlinghouse promoting this fake giveaway. The video’s voice, mimicking the Ripple boss in an extremely realistic manner, promises swift returns to those participating in this so-called community support initiative.
However, eagle-eyed viewers have noticed discrepancies in the video’s editing, particularly around the mouth movements, raising red flags about its authenticity.
This scam is part of a worrying trend of using AI to clone the voices of public figures. Similar tactics have been employed against other prominent individuals, including venture capitalist Tim Draper, a well-known Bitcoin enthusiast.
As reported by U.Today, Draper recently warned the public about these AI voice cloning scams, stressing that he would never solicit funds in such a manner.
Ripple’s legal action against YouTube
XRP scams have been plaguing YouTube for years. Back in 2021, Garlinghouse took legal action against the popular video-hosting platform for allowing such scams to proliferate on its platform.
Ultimately, the case was settled, with both parties agreeing to work together to prevent such deceptive practices in the future.
However, with the rise of AI-powered voice-cloning technologies, cryptocurrency scams continue to proliferate on social media platforms.
