Ripple has issued an urgent warning about sophisticated YouTube account hacks promoting fraudulent XRP giveaways, coinciding with a cryptocurrency market rally. The scams involve compromised channels impersonating Ripple executives and falsely claiming official sponsorship for non-existent promotions.
One counterfeit YouTube channel reportedly accumulated 176,000 subscribers—more than double Ripple’s official subscriber count of 81,000—demonstrating the scale of the operation. Scammers utilize advanced tactics including Punycode attacks to create deceptive websites mimicking legitimate platforms.
Ripple explicitly stated that no company executive would ever request XRP transfers for promotional purposes. The firm is actively collaborating with YouTube to remove fraudulent content, though new scams continue to emerge rapidly.
The surge in malicious activity occurs as XRP approaches its 2018 peak price of $3.66 amid broader crypto market gains. Ripple emphasized that heightened vigilance and user education remain critical defenses against impersonation scams targeting digital asset holders.