On social media, a fresh fraud involving the cryptocurrency XRP, which is connected to Ripple, has appeared. The fraud, whose execution is frighteningly smart, uses artificial intelligence (AI) to mimic the voice and appearance of Ripple CEO Brad Garlinghouse in an attempt to trick consumers into thinking there is a fake XRP giveaway.
Nature of scam
A apparently tempting offer is used by the scammers to entice victims: send at least 1,000 XRP and get twice that amount back.
Garlinghouse is featured in the scam film advertising this fictitious contest. The voice in the video, which does an incredibly realistic impression of the Ripple CEO, assures viewers that people taking part in this alleged community support programme would receive their money back quickly.
But astute viewers have pointed out editing errors in the film, especially in the area surrounding the mouth motions, casting doubt on its veracity.
This fraud is a part of the unsettling trend of cloning prominent individuals’ voices via artificial intelligence. Similar strategies have been used against other well-known people, such as well-known Bitcoin enthusiast and venture investor Tim Draper.
Draper recently alerted the public to these AI voice cloning frauds, as reported by U.Today, emphasising that he would never ask for money in this way.
Ripple’s legal action against YouTube
YouTube has long been plagued by XRP frauds. Garlinghouse filed a lawsuit against the well-known video-hosting platform back in 2021 for enabling the spread of these frauds on its platform.
In the end, the matter was resolved with an agreement from both sides to cooperate in stopping similar dishonest behaviour in the future.
But with the development of AI-driven voice-cloning technology, social media platforms are still rife with bitcoin frauds.
