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Leading financial stakeholders from around the world attended the Ripple Swell conference earlier this month, which was a huge success.

A historic $500 million funding deal involving prominent organizations like Pantera Capital, Brevan Howard, Fortress Investment Group, and Marshall Wace was announced during the event, raising the company’s valuation to $40 billion.

Nevertheless, con artists were working behind the scenes to take advantage of gullible investors while Ripple hosted one of the most significant events in the cryptocurrency industry

Ripple confirmed that it observed this malicious activity both during and after the Swell incident. Specifically, the company highlighted that it encountered many fake YouTube live streams during and after Ripple Swell. Scammers often exploit major events or developments involving Ripple, as is widely known.

They generally set up impersonation livestreams during these times.
Several major moments in Ripple’s history, such as the company’s partial court victory over the US SEC, have been associated with this malicious activity.

Ripple urges its community to avoid falling for such schemes, emphasizing that all XRP “giveaways” are scams.

The company reiterated in its latest announcement that it will never ask users for XRP in connection with promotions, giveaways, or special events such as the Swell conference.

Several executives at Ripple have publicly denounced these fake giveaway schemes as outright scams, and the company has consistently issued similar warnings on its official X account.

Ripple cautioned users about the rise of fake YouTube livestreams impersonating Ripple executives, which encouraged viewers to participate in supposed giveaways by sending XRP to a designated address. Earlier this month, RippleX, the division focused on the XRPL, also warned about deepfake scams targeting unsuspecting community members.