ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Scammers Used Ripple CEO's Digital Clone for False Advertisement, But YouTube Failed to Flag it

The ad is one of the many scam ads that uses artificial intelligence to impersonate someone, often a celeb, to spread false information. 
PUBLISHED JAN 7, 2024
Cover Image Source: Crypto Mike | X
Cover Image Source: Crypto Mike | X

Technology such as deepfake and deepvoice is increasingly being used by scammers who use images of popular personalities or the voice of someone known to the victim to swindle money or defame people. In a similar development, a new ad featuring Ripple CEO Brad Garlinghouse is doing the rounds on the internet, where the CEO tells people they can receive XRP for free by simply sending a particular crypto wallet some XRP first, per Forbes. Of course, Garlinghouse never said anything about XRP airdrops. The ad is one of the many scam ads that uses artificial intelligence to impersonate someone, often a celeb, to spread false information. 

The surprising factor is that the YouTube algorithm designed to filter the scams, didn't flag this one. The ad is also extremely prevalent on X, formerly known as Twitter, and is also pretty convincing unless one notices his lips moving in an odd way.



 

"There’s been an uptick in deepfake scam videos (ex below) overlaying new words with old video footage from Ripple’s events (@YouTube are you asleep at the wheel again?!). Reminder: don't trust, verify (all approved messaging will only come from official Ripple accounts)," he tweeted on November 16, 2023.

Many are falling for the ad and have even been successfully scammed. "I just got scammed 2k in xrp on an ad here on X. Saying they would double it back to me. I should have looked it up...." tweeted one user.

X has struggled a bit with ads that are using photos of the platform owner and billionaire, Elon Musk. So, it's safe to say that anybody promising to send you crypto only if you send them first is most definitely a scam. 

AI scams are very intense and a bit tricky to spot, since they often take different forms such as fake chatbots or even voice cloning with the ulterior motive of draining your finances. Scammers are using social engineering now polished with AI to target the emotions of normal people. Some of the red flags that you need to recognize are links and redirecting tools in text messages, odd imagery, and more.

Cover Image Source: Pexels | Tara Winstead
Scam alert | Pexels | Tara Winstead

Deep fakes 

The fact that people can steal identities through voice modification is scary. AI video and photo editing is on a different level and the frauds have skyrocketed in the previous year. While it's not a huge threat yet, it's only a matter of time before they will become one. 

Image Source: istockphoto/Jerome Maurice
Scam alert | istockphoto/Jerome Maurice

LLM malware

With the help of artificial intelligence, companies can now create their own set of malware. This malware takes advantage of software like Chat GPT and other APIs to generate codes that target people. 

Zero days

Many tricksters detect zero-days which is a term that they use to describe any loophole in a fully developed code that has not yet been discovered. These weaknesses can create problems for each organization as they will expose the whole system to malware.

MORE ON MARKET REALIST
Ozark Trail 64 oz Water Bottles were recalled after the lids of faulty bottles forcefully ejected.
39 minutes ago
The player laughed and giggled her way through the puzzles to win prizes worth over $57,000.
1 hour ago
Scott Riccardi placed an unbelievable wager during Final Jeopardy! to win a massive amount in a day!
3 hours ago
The guest got a 200% return on investment on her sculpture that she bought from Macy's.
4 hours ago
Jennings had a record-setting winning streak as a contestant before he became the host.
1 day ago
The player, Ron Wheeler, tragically got no clues after his letter picks for the final puzzle.
1 day ago
The former kids champion, Skyler Hornback knew what was coming.
1 day ago
The fans took issue with the clue being too tough and unnecessary for the contestants.
2 days ago
Cuban wanted to strike a deal with the founder of Coconut Girl and gave her an ultimatum.
2 days ago
Although the word did make a lot of difference, some fans felt that the decision was ridiculous.
2 days ago
The guest, who found the item online, didn't think it was the real deal until he heard its value.
3 days ago
The player Samantha secured the first big win of Ryan Seacrest's run on the show.
3 days ago
The sisters wanted to keep their father's legacy alive, but also had their careers to focus on.
3 days ago
The shopper noticed that the watermelon which she bought three days ago was deflated.
3 days ago
The guest couldn't believe that her collection was worth so much money.
4 days ago
While all the Sharks were out, Mark Cuban saw the potential in "Garage Celebrations."
5 days ago
The loss was ironic as the retired teacher coulnd't get a phrase commonly used in classrooms.
5 days ago
The recalls were issued for a range of products including tires, air conditioners and power banks.
5 days ago
The guest who got the item as a gift from a neighbor had little to no idea about its significance.
5 days ago
Harrison got a good deal for the fossil although it wasn't what he had thought.
6 days ago