- The deepfake video was of Ripple's CEO asking holders to send XRP to a specific address
- He promised to send them back twice as much
- Deepfake technology uses AI to manipulate or generate fake content
Reddit users found a deepfake video involving the Ripple (XRP) cryptocurrency on YouTube and flagged it, Cointelegraph reported. The video was of Ripple CEO Brad Garlinghouse asking XRP holders to send their assets to a specific address, pledging to send back twice as much.
A Reddit user started a thread, where he wrote he had seen the ad on YouTube back on Nov. 25. Other Redditors commented on his post, claiming they had seen and reported similar advertisements on the platform.
What is a deepfake scam?
A deepfake scam involves the use of deepfake technology to create realistic but false images, videos, or audio recordings in order to deceive people. Deepfake technology uses artificial intelligence (AI) and machine learning to manipulate or generate content that appears authentic, often by superimposing the likeness of one person onto another or by altering existing content in a convincing way.
In the deepfake video, an AI-generated image of Garlinghouse invited watchers to take part in an event where they should send their XRP to a “designated address” and get back twice as much XRP as part of the fake giveaway.
A rise in XRP fraud cases
Back in July 14 David Schwartz, Ripple’s chief technology officer, warned about an increase of XRP scams after a court ruled in favor of Ripple in its battle with the Securities and Exchange Commission (SEC). Schwartz insisted there were no giveaways, airdrops, or special offers associated with the ruling.
It doesn’t ‘violate’ Google’s policies
According to one Reddit user, Google is refusing to take down the ad even though it’s obviously fraudulent. The user received a response from the search engine’s Trust and Safety Team, saying that they would not to remove the ad, and posted a screenshot of the response. According to Google’s team, the ad does not violate their terms. They only asked the user for more information.
