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David Schwartz, the chief technology officer at Ripple, expressed concern about a deepfake scam targeting Ripple CEO Brad Garlinghouse, according to a recent post on X. In the video, Garlinghouse was falsely depicted discussing plans for XRP and attempting to deceive community members into a fraudulent scheme.

 

Schwartz responded with a GIF about a scam alert and shared his warning to XRP holders. The response highlights the rising issue of impersonation fraud, where fake identities spread false information by manipulating digital technology.

Scammers increasingly use deepfake technology to alter real footage of prominent industry figures. In this case, a fake website linked to cryptocurrency wallets was promoted by editing Garlinghouse’s image.

These scams often impersonate legitimate sources, asking for payments and displaying social wallet addresses to appear credible. Since deepfakes can be hard to detect, they pose a serious risk to investors.

Ripple recently joined TRM Labs’ Beacon network to enhance security, a real-time crime response platform designed to combat crypto fraud.

Garlinghouse directly warned XRP holders that bad actors are also creating fake YouTube accounts pretending to be Ripple, falsely claiming that Ripple promotes XRP giveaways. He emphasized that he and the company would never ask for XRP transfers. Additionally, scammers are mimicking Ripple’s branding, usernames, and images, often relying on fake live streams and fabricated videos promising huge profits to lure victims.