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Phishing in cryptocurrency reaches a new record high
Ripple CEO, Brad Garlinghouse warns that cryptocurrency scams are on the rise as the market bounces back. He stated that scammers are impersonating Ripple's official YouTube account to deceive XRP users. In the first half of 2025, cryptocurrency scams caused a record loss of 2.1 billion USD, surpassing 2 billion USD in 2022.
XRP recently rose to 3.66 USD before adjusting to 3.19 USD. Bitcoin and Ethereum also saw significant increases of over 7% and 31% respectively in the past 14 days. Garlinghouse urged the community to remain vigilant, emphasizing that Ripple never asks for XRP to be sent or organizes giveaways.
Ripple previously sued YouTube over the issue of impersonation in 2021, but later the two sides reached a cooperation agreement to combat fraud. Other companies were also deceived through fake advertisements on Google using the "Punycode" technique.