A cunning new cryptocurrency scam has emerged, sending shockwaves through the crypto community. This time, the scammers are utilizing artificial intelligence to impersonate Brad Garlinghouse, CEO of Ripple Labs, creators of the popular XRP cryptocurrency.
This brazen scam features an AI-generated video that mimics Garlinghouse’s voice and appearance with frightening accuracy. In the video, the fake Garlinghouse promotes a fake Ripple-affiliated XRP giveaway, asking users to send a minimum of 1,000 XRP to receive double that amount in return.
The cutting-edge voice cloning technology makes the sham video incredibly convincing to unsuspecting viewers. Slight imperfections are noticeable only on close inspection, such as small mouth movement discrepancies when the fake Garlinghouse speaks.
This novel scam represents a growing trend of using AI to steal identities and spoof voices of celebrities and public figures. Earlier this year, bitcoin advocate Tim Draper revealed he too had been imperiled by AI voice cloning scams asking for bitcoin donations.
As AI continues advancing, identity theft through audio and video manipulation will become increasingly commonplace. Lawmakers and technologists are scrambling to devise solutions to combat this emerging threat.
Ripple Battles Escalating XRP Scam
Despite past legal efforts by Ripple to curb XRP scams, they continue to run rampant on social media. Ripple previously sued YouTube in 2021 for enabling XRP giveaway scams, eventually settling the case on agreement that YouTube would increase scam prevention efforts.
But the growing sophistication of scams, now augmented by AI, seems to be outpacing the defenses. Both regulators and web platforms will need to remain vigilant to protect the public from these deceptive schemes targeting cryptocurrency users.
For the crypto community, skepticism remains the best self-defense. As technology progresses, scammers will continue deploying it in new ways to exploit victims. Staying cautious, alert to red flags, and verifying sources are crucial to avoid being duped. With precautions, crypto users can still benefit from the space’s innovation without becoming targets.
The fake Garlinghouse video scam is not the only one that targets XRP holders. In recent months, there have been reports of phishing emails, fake websites, and malicious software that attempt to steal XRP from unsuspecting users.
Some of these scams claim to be affiliated with Ripple or its partners, while others impersonate reputable exchanges or wallets. These scams often promise high returns, free tokens, or urgent security updates to lure victims into giving up their private keys or sending XRP to fraudulent addresses.
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