RippleX Warns of Fraudulent Schemes
RippleX, the development sector of the renowned blockchain enterprise Ripple, has sounded the alarm regarding fraudulent schemes involving deceptive livestreams purporting to be affiliated with XRP. The organization highlighted that its staff members would never solicit funds, request wallet details, or invite individuals to partake in investment livestreams.
Increased Scams Amid Market Excitement
The attention surrounding XRP has surged in light of the ongoing excitement over exchange-traded funds (ETFs), potentially leading to a rise in fraudulent activities. In this context, users are urged to stay alert against potential scams. Ripple’s CEO, Brad Garlinghouse, has previously noted that fraudulent attempts tend to increase in frequency during market rallies.
Financial Losses from Cryptocurrency Scams
Research conducted by blockchain security firm Certik has revealed that the total financial losses attributed to cryptocurrency scams exceeded $2.1 billion in the first half of 2025 alone. Among the various scams, fake giveaway schemes—where individuals are promised returns for sending a certain amount of XRP—are particularly prevalent.
Scammers’ Tactics
Scammers often impersonate legitimate accounts on platforms such as YouTube and other social media channels, enhancing their credibility. Some utilize AI technology to replicate the appearances and speech patterns of corporate leaders. In a related finding reported by the New York Post in July, incidents of AI-driven crypto scams have surged by 456%.
