Summary:
– Ripple’s CEO took to the company’s official X channel to caution the community about a rising number of scammers posing as team members with enticing but fraudulent offers.
– The recent surge in XRP’s value might be contributing to an increase in fraudulent activities.
On Twitter, Brad Garlinghouse (@bgarlinghouse) expressed concern over the growing number of scams targeting the XRP community, particularly on YouTube, where fake channels are impersonating Ripple’s official account to make enticing offers. He urged continued vigilance and reporting of these scams.
The scams often involve promises to multiply funds sent to a specific address, a classic tactic that leaves victims with losses and no returns. The advancement of AI technology has made these scams more convincing through deepfake technology, necessitating extra caution from the community. As Garlinghouse advises, “If it sounds too good to be true, it probably is.”
This alert comes amid a booming cryptocurrency market, with many assets reaching new all-time highs. Ripple’s cross-border token recently surpassed its January 2018 high of $3.4, reaching a new peak of over $3.6 last week. Despite a slight dip, XRP remains one of the top cryptocurrencies, ranking third by market capitalization, exceeding $200 billion.
For insights into XRP’s potential trajectory during this cycle, as suggested by ChatGPT, Grok, and Gemini, refer to our full article.
This update originally appeared on CryptoPotato.
