Hackers compromised the Indian Supreme Court’s YouTube channel to promote a fraudulent XRP scheme using a deepfake of Ripple’s CEO.
YouTube removed the channel for policy violations; efforts are ongoing to restore the Supreme Court’s account.
Ripple has previously taken legal action against YouTube over similar scams, but it’s unclear if they will pursue it again after this incident.
On Friday 20th 2024,, there was a breach on the Supreme Court of India's official YouTube channel. Hackers erased every video from the past after seizing control of the channel.
Notably, the platform was utilized by the attackers to advertise a fraudulent investment scheme that involved XRP and Ripple. This incident raises questions about the security of official channels because it demonstrates the growing use of technology in the execution of sophisticated scams.
https://twitter.com/ANI/status/1837016603801821303 Deepfake Scams Exploit Public Trust
Brad Garlinghouse, the CEO of Ripple, appeared in a deepfake video on the compromised channel. The video encouraged viewers to participate in a fake XRP investment scheme by promoting it. The YouTube channel was renamed "Ripple" by the hackers, who also deleted all of the previous videos. Such schemes have previously been directed at Ripple.
Notably, the company has dealt with comparable fraudulent activities in the past. It even filed a lawsuit against YouTube for not doing enough to stop these scams from spreading across the platform. Due to the incident, Ripple has released advisories cautioning investors to avoid clicking on phishing links and watching deepfake videos.
YouTube Removes the Compromised Account
Consequently, YouTube deleted the compromised account after discovering that it had broken its rules. The Indian Supreme Court acknowledged the incident and gave the assurance that measures are being taken to return the channel to its original state. The public was informed by a statement issued by the court that the channel had been taken down and that operations would soon be restored.
Furthermore, this incident highlights the weaknesses in online platforms' security protocols. It also begs the question of how well these platforms work to stop these kinds of attacks, particularly on the channels of high-profile organizations.
Ripple’s Response and Legal Implications
Besides, Ripple has repeatedly alerted the public of fraud and the misappropriation of its brand in deceptive practices. The matter is made more complicated by the company's prior legal disputes with YouTube regarding similar scams. In the past, Ripple sued YouTube for failing to adequately manage the amount of scams on the platform.
Even though the company prevailed in that case, it is still unknown if Ripple will take up legal action again. Given Ripple's recent legal victory against the U.S. Securities and Exchange Commission (SEC), this issue comes at a crucial moment for the company.
As a result, the company and the cryptocurrency community now have some clarity after the court decided that XRP is not a security. However, the company's reputation and market confidence may be impacted by the rising number of scams.
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