Ripple has been a lot in the spotlight recently in relation to MoneyGram, which has highlighted various times that thanks to the San Francisco-based company, their revenue was of $11.3 million.

Ripple CEO talks about XRP giveaway scams

Now, it’s been revealed that Ripple CEO Brad Garlinghouse is slamming the cyber thieves behind a fake YouTube account that’s attempting to lure viewers into taking part in XRP giveaway scams.

All kinds of reports of fake accounts have been circulating on social media at the beginning of this week. Ripple CEO blasted the scammers on Twitter.

“Enough is enough – in a time of global crisis, when people are especially vulnerable – social platforms need to hold scammers (crypto and otherwise) accountable for stealing money from innocent victims with fake giveaways,” Brad Garlinghouse tweeted.

He continued and wrote “My semi-annual PSA: @Ripple and I have not, nor will we ever, conduct a giveaway like the scams that continuously pop up impersonating me on @YouTube, @Instagram, @Twitter, etc. Action needs to be taken – more to come soon.”

Ripple published a new blog post on giveaway scams.

The company suggested that it’s highly necessary to research any advertised giveaway by verifying it on the reported company’s main website and official social media accounts.

“In many cases, the first warning that a giveaway ad is a scam is that in order to receive the reward, you must first send money and/or provide your personal financial account information. For any real sweepstakes, winnings are always free and never ask for money or financial account information upfront,” according to the info from the blog post.

Positive feedback

Someone commented: “Youtube should do more than ban. They should legally Go after these people. They have everything they need to do so.”

Another follower said: “I have reported every one I have seen, but I feel
@Google @YouTube have failed to act. People have been scammed, and those sites should be compensating victims. The Nano Ledger fake customer services scam is another they allowed to continue for far too long despite reports made.”

Ripple says that they have also hired external cybersecurity and digital threat intelligence vendor to help with reporting.

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