Sophisticated Ripple Scam Using AI technology Emerges on Social Media
Latest News News

Beware, Sophisticated Ripple Scam Using AI technology Emerges on Social Media

  • Ripple scam using AI technology emerges on social media.
  • The scam utilizes Ripple CEO Brad Garlinghouse’s voice and image.

A new social media scam involving the Ripple-affiliated XRP cryptocurrency has appeared. The fraud, which is disturbingly clever in its execution, uses AI technology to replicate Ripple CEO Brad Garlinghouse’s voice and image, with the goal of duping consumers into believing in a non-existent XRP giveaway.

The Nature of the Scam

The fraud entices victims with an apparently lucrative offer: Send at least 1,000 XRP and receive twice as much in return.

Garlinghouse appears in the fraud film promoting this bogus giveaway. The video’s voice, which accurately mimics the Ripple CEO, offers quick returns to people who participate in this so-called community support project.

Read Also: Ripple Partners With Onafriq to Boost Financial Inclusion in Africa

However, astute viewers have discovered inconsistencies in the video’s editing, particularly around the mouth motions, raising concerns about the video’s legitimacy.

This swindle is part of a troubling trend of employing artificial intelligence to clone the voices of notable figures. Similar tactics have been used against other important people, such as venture investor Tim Draper, a well-known Bitcoin advocate.

According to U.Today, Draper recently cautioned the public about these artificial intelligence voice cloning scams, emphasizing that he would never collect donations in this manner.

Ripple’s legal fight against YouTube XRP frauds has been a problem for years. Garlinghouse took legal action against the famous video-hosting site in 2021 for enabling such schemes to flourish on its platform.

Read Also: Ripple CEO, Brad Garlinghouse, Ready To Fight SEC In Supreme Court

The issue was eventually settled, with both sides committing to collaborate in the future to prevent such misleading acts.

However, with the rise of AI-powered voice-cloning technologies, cryptocurrency scams continue to proliferate on social media platforms.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.