A new deepfake scam is circulating on X (Twitter), falsely claiming that Ripple is launching a 100 million XRP rewards program.
The scam comes only hours after the XRP price hit an all-time high (ATH), drawing tailwinds from broader market optimism, growing investor interest, and increased new addresses.
Deepfake Scams Exploit XRP Price’s ATH Momentum
The AI-generated video features a digitally manipulated version of Ripple CEO Brad Garlinghouse. In the video, Garlinghouse thanks the XRP community for their support during Ripple’s multi-year legal battle with the US SEC (Securities and Exchange Commission), falsely announcing a celebratory airdrop.
“Four years ago, we entered a battle we didn’t choose. But we fought and won against the SEC… I’m launching Ripple rewards program. 100 million XRP airdrop pool created for you,” the manipulated video claims.
The scam spread online, riding the excitement after XRP price surged to a new ATH on Thursday, fueled by growing investor interest and increased new addresses.
The bad actors also aim to capitalize on the conclusion of the Ripple versus SEC case, a move the network’s executives know all too well.
In hindsight, Ripple has dealt with a surge in social media scams following each major courtroom success.
In August 2024, scammers promoted fake XRP airdrops after Judge Analisa Torres ordered Ripple to pay only $125 million in penalties. This was far less than the SEC’s initial $2 billion request.
Similarly, after a 2023 ruling that XRP was not a security, deepfakes and phishing attacks targeting Ripple investors also increased.
“A lot of scammers are taking advantage of the recent good news to try to cheat and steal. There are no airdrops, giveaways, or special offers associated with this ruling,” David Schwartz warned at the time.
Schwartz took to social media to expose the latest scam, with the Ripple CTO posting a warning on X (Twitter).
Despite malicious actions from bad actors, analysts remain optimistic about the Ripple price rally. On-chain metrics suggest XRP still has potential for further upside. However, as euphoria swells, so too does fraudulent activity.
Against this backdrop, Ripple has consistently reminded users that the company and its executives will never initiate token giveaways, ask for personal details, or request fund transfers.
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