As the crypto market touches new highs in 2025, fraudulent schemes are once again flooding the space. Ripple CEO Brad Garlinghouse has issued a public alert, warning users of sophisticated XRP scams on YouTube and other platforms.
Crypto Scam Losses Hit $2.1 Billion in H1 2025
The first half of 2025 saw crypto scam losses reach a record-breaking $2.1 billion, surpassing the previous high of $2 billion set in 2022. According to Ripple, bad actors are now exploiting hacked YouTube accounts to impersonate Ripple and promote fake XRP giveaways.
âWith every major rally, scammers ramp up. Please beware of YouTube accounts impersonating Ripple,â Garlinghouse wrote on X.
These fake channels are broadcasting live streams and promotional videos under Rippleâs branding, attempting to lure users into sending XRP with promises of âdouble returnsâ â a classic scam tactic.
XRP Price Rally Draws Fraudsters
XRP recently surged to $3.66, nearing its 2018 all-time high of $3.84, before retreating to $3.19 within 24 hours. This rally, combined with Bitcoinâs move above $119,000 and Etherâs 31% spike, has created an environment ripe for scammers.
High volumes and increased attention make the perfect breeding ground for impersonators.
YouTube scammers are using compromised channels with over 100,000 subscribers, making the schemes look incredibly authentic. Some victims have already reported falling prey to fake events claiming to give away 100 million XRP.
Ripple and Others Warn Against Crypto Impersonators
Ripple reiterated that it will never ask users to send XRP or conduct giveaways. Spear-phishing and Punycode domain spoofing are among the key techniques scammers use to mislead users on both YouTube and Google.
âDonât trust Google ads or search results for DeFi sites,â said Scam Sniffer, after finding scam ads impersonating crypto platforms.
This isnât Rippleâs first clash with YouTube. In 2021, Ripple sued the platform over similar impersonation scams. The case was later dropped after both parties agreed to work together to reduce such attacks.
Stay Vigilant: What You Can Do
- Always double-check official handles.
- Avoid clicking on suspicious YouTube live streams or Google ads.
- Never send crypto expecting a return.
As the bull run continues, so do scams. If it sounds too good to be true, it probably is.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.