By
Chimamanda U. Martha
April 26th, 2024
A Reddit user has reported that Google is unwilling to take down a video advertisement that appears to be an attempted scam targeting cryptocurrency users.
Reddit users have recently uncovered a deepfake video featuring Ripple CEO Brad Garlinghouse, urging XRP holders to transfer their tokens to a specific address with the promise of receiving double the amount – a notorious tactic employed by scammers.
A Reddit user reported the fraudulent video in a Reddit thread, thus encountering the deceptive advertisement on YouTube between Nov. 25 and Dec. 3. Additional users in the thread shared similar experiences, signaling the presence of these misleading ads on the platform. Thus, the cryptocurrency community needs to remain vigilant and report such instances to prevent potential scams.
A deepfake video featuring what appears to be an AI-generated representation of Ripple CEO Brad Garlinghouse has surfaced, enticing viewers to participate in an XRP event. The video instructs participants to send XRP tokens to a specified address, promising to return double the amount as part of a fabricated giveaway.
Besides, this deceptive tactic is a cause for concern in the crypto community, prompting a warning from Ripple’s Chief Technology Officer David Schwartz. Following a court ruling in favor of Ripple in July, Schwartz cautioned investors about the increasing prevalence of XRP scams and clarified that there were no associated airdrops, giveaways, or special offers linked to the court decision. Crypto enthusiasts are advised to exercise caution and verify information to avoid falling victim to fraudulent schemes.
YouTube and Ripple Scams
In a concerning turn of events, a Reddit user has reported that Google is unwilling to take down a video advertisement that appears to be an attempted scam targeting cryptocurrency users. Despite evident signs of fraudulent activity, the user shared a screenshot of a response from Google’s Trust and Safety Team, stating that they have chosen not to remove the ad.
According to the screenshot, Google asserted that the ad did not violate their policies and requested additional information to be provided within six months. Additionally, Redditors shared an unlisted YouTube video link featuring the deepfake ad, which had garnered over 17,000 views at the time of writing. Reddit users are cautioning the community against interacting with the video’s QR code to prevent potential financial losses. Vigilance is advised to avoid falling victim to deceptive schemes in the crypto space.
The XRP community remains a prime target for fraudulent activities, with Ripple Labs’ executives, including CEO Brad Garlinghouse, being frequent victims of impersonation. In a previous incident, scammers urged XRP community members to send 1,000 to 50,000 XRP, promising a double return within 24 hours.
Expressing concern over the surge in deepfake scam videos on YouTube, Ripple CEO Brad Garlinghouse has highlighted the need to address these deceptive practices. Ripple executives, along with industry partners like Ledger, have also joined forces to condemn and raise awareness about these harmful fraudulent schemes, aiming to protect the XRP community from falling prey to such scams.