According to U.Today, Ripple has issued an urgent warning to the XRP community in response to a series of scams targeting XRP holders. In particular, the image of Ripple CEO Brad Garlinghouse has been increasingly used in deep fakes and other cryptocurrency scams that promise to give away free XRP. Ripple warned that the company and any of its executives will not ask anyone to send XRP. In order to better educate the community, Ripple has created a demonstration video to reinforce this warning.

Popular scams include impersonation scams, where scammers create a sense of legitimacy by using logos, avatars, deepfakes, or legitimate video clips that match real company imagery. Cryptocurrency giveaway scams involve social media posts impersonating public figures promising free cryptocurrency. Phishing scams typically come in the form of emails or text messages that ask users to respond, visit a website, or send money.

Ripple said in a blog post that it is combating scams on multiple fronts, including working with third-party experts to actively scan the network for possible scams, warning users of possible scam activity, and working with other blockchain companies to coordinate scam prevention efforts.