As is a customary tactic for fraudsters, Reddit users have identified a deepfake video purporting to show Ripple CEO Brad Garlinghouse requesting XRP holders to transfer their coins to a specific address with the assurance of receiving double the amount back.
A participant of the online forum stated in a Reddit thread that they had encountered the advertisement on YouTube between November 25 and December 3. Other Redditors in the thread reported seeing identical advertisements on the platform.
A screenshot of an unlisted advertisement video on YouTube. The source is YouTube.
A video ostensibly featuring an AI-generated video of Garlinghouse invited the audience to partake in an XRP event by delivering tokens to a “designated address.” As part of the sham giveaway, the character in the video vowed to return “double the amount” in exchange.
David Schwartz, the chief technology officer of Ripple, issued a cautionary message to investors on July 14 regarding the proliferation of XRP frauds, following the favorable court judgment in the company’s dispute with the Securities and Exchange Commission (SEC) in July. Schwartz stated that the ruling does not pertain to any airdrops, incentives, or special offers.
According to one Reddit user, Google has refused to remove the video advertisement despite obvious indications that it is an attempt to defraud cryptocurrency users.
The Reddit user shared a screenshot of a response from Google’s Trust and Safety Team stating that they have decided not to remove the advertisement. Google’s team said, based on the screenshot, that the ad did not contradict their policies and requested that the user provide additional information within six months.
Additionally, Redditors disseminated the hyperlink to an unlisted YouTube video featuring the deepfake advertisement. Despite lacking searchability on the platform, the video had accumulated more than 17,000 views as of the time of writing. Users of Reddit advised the community to refrain from scanning the QR code in the video to prevent financial loss.
