Ripple CTO David Schwartz Exposes Deepfake Video Promoting XRP Rewards

A new wave of cryptocurrency scams is targeting the XRP community, utilizing deepfake technology to deceive unsuspecting users. A digitally fabricated video featuring Ripple CEO Brad Garlinghouse is circulating online, falsely claiming Ripple launched an XRP rewards program to celebrate its legal victories.

However, as scammers attempt to lure individuals with the promise of a fraudulent XRP airdrop, Ripple CTO David Schwartz has intervened to expose the deceptive scheme, confirming the video’s artificial intelligence origins.

Ripple CTO Exposes Deepfake Video

Over the past 24 hours, a deceptive video promising XRP rewards has rapidly spread across various social media platforms. The XRP community is currently experiencing a wave of positive sentiment, anticipating an imminent settlement in the Ripple vs. SEC case.

The XRP market is gaining momentum, with many predicting a significant surge in the price. XRP is now worth $3.62, representing a 16% increase in just one day. Additionally, industry experts, such as Versan Aljarrah, a co-founder of Black Swan Capitalist, remain optimistic about XRP’s future growth potential.

Moreover, what’s interesting is that the fake video capitalizes on this growing interest to amplify further the current excitement, making it much more likely that the scam will trick people. Ripple CTO David Schwartz issued a warning against this fraudulent scheme, sharing a post on X stating:

“Obvious scam is obvious, It’s an AI-generated fake.”

Scammers’ Previous Pattern

The deepfake video shows Garlinghouse promoting an XRP rewards program for the Ripple community. Scammers have previously plotted to deceive the community during Ripple’s legal wins, and this deepfake is not the first instance.

Notably, scammers have increased their activity following previous lawsuit victories, with fake news and phishing schemes emerging to exploit the excitement.

For example, in August 2024, Ripple achieved a significant victory against the SEC when Judge Analisa Torres mandated a $125 million penalty, a considerable reduction from the $2 billion in penalties initially sought by the SEC.

A surge in scams promising fake XRP airdrops and giveaways followed this victory. In response, Ripple issued a warning against the escalating scams, stating:

“And once again, with Wednesday’s historic victory, we’ve seen an uptick in scams. Please beware of scam ‘Ripple’ accounts, fake executive accounts, or others pushing ‘XRP Giveaways’ or ‘XRP Airdrops.’ Ripple and its executives will NEVER ask you to send funds anywhere.”

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