David Schwartz Exposes Ripple CEO Deepfake Promoting 100M XRP Scam

The post David Schwartz Exposes Ripple CEO Deepfake Promoting 100M XRP Scam appeared first on Coinpedia Fintech News

As XRP’s price climbs and optimism builds around Ripple’s legal battle, scammers are back – this time with a deepfake twist. A fake AI-generated video of Ripple CEO Brad Garlinghouse is being shared online, promoting a 100 million XRP airdrop that doesn’t exist.

Ripple CTO David Schwartz has stepped in, calling out the scam and urging the community to stay cautious.

With XRP now trading at $3.43, up nearly 6% in the past 24 hours, the excitement is real. But so is the threat.

Ripple CTO Calls Out Fake XRP Rewards Scam

Crypto scams are nothing new, but this one stands out for using AI. A deepfake video has surfaced, falsely showing Garlinghouse announcing a “Ripple Rewards Program” tied to their legal progress against the SEC.

In the video, the fake Garlinghouse says:

“Four years ago, we entered a battle we didn’t choose. But we fought and won against the SEC… Now, it’s our turn to say thank you. I’m launching Ripple Rewards Program. 100 million XRP airdrop was created for you.”

David Schwartz quickly responded on X, warning: “Obvious scam is obvious.”

AI tools are making crypto scams harder to detect, and more dangerous than ever.

XRP’s Price Jump Creates a Perfect Setup for Scams

XRP’s recent rally has made it a hot topic. With its price jumping to $3.43 and sentiment rising ahead of a possible Ripple vs SEC settlement, the buzz is loud and scammers are using it to their advantage.

Crypto analyst Versan Aljarrah, co-founder of Black Swan Capitalist, says XRP could be gearing up for a bull run. That’s the kind of news fraudsters look for. They know investors are watching closely, and use fake airdrop promises to trick them into clicking on phishing links or connecting to shady wallets.

These scams often lead to major losses for unsuspecting victims.

A Pattern of Scams Tied to Ripple’s Legal Wins

Scammers have previously taken advantage of Ripple’s legal triumphs . In August 2024, Ripple achieved a significant win as Judge Analisa Torres imposed a $125 million fine, which is less than the SEC’s $2 billion request. The victory paved the way for a surge of fake XRP airdrops and promotions.

Ripple issued a statement, cautioning, “With Wednesday’s historic victory, we’ve seen an uptick in scams. Please beware of scam ‘Ripple’ accounts, fake executive accounts, or others promoting ‘XRP Giveaways’ or ‘XRP Airdrops.’”

Similarly, after a ruling that XRP is not a security, scammers flooded the space with fake offers. David Schwartz noted, “ There are no airdrops, giveaways, or special offers associated with this ruling .”

What XRP Investors Need to Know

As deepfake technology becomes more advanced, it’s harder to tell what’s real and what’s not. That’s why it’s more important than ever for the XRP community to be cautious.

If you see a giveaway or airdrop being promoted, don’t click anything unless it’s from Ripple’s official sources. Never send funds or personal info to unknown links. Ripple will never ask you to.

The price action might be exciting, but protecting your crypto should always come first.