Ripple CEO Brad Garlinghouse warned cryptocurrency holders to exercise heightened caution during the holiday season as scammers intensify operations targeting digital asset users. The alert comes amid a surge in fraudulent schemes exploiting the growing popularity of Ripple's native token XRP.
What Happened: Holiday Scam Alert
Garlinghouse issued the warning on Dec. 2 through social media, directing users to Scamberrypie, a resource website detailing protective measures against online fraud. The initiative represents a collaborative effort between Ripple, Match Group, Cash App, the National Cryptocurrency Association, and Coinbase to combat holiday-season scams.
According to data cited by the campaign, 57% of adults encountered at least one scam attempt in 2025.
The statistics reveal that 23% of victims lost money to fraudsters, while 20% of those affected never reported the incidents. Total losses attributed to scammers approached $450 billion, according to the campaign's estimates.
The website identifies several warning signs for potential scams, including artificial time pressure, excessive flattery, guarantees of high-return investments, and demands for irreversible payment methods.
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Why It Matters: Token Exploitation
The warning addresses a growing problem that escalated following XRP's value surge after the November 2024 presidential election. Garlinghouse has repeatedly alerted the community about fraudulent YouTube content that promises to double user holdings if victims send XRP to specified wallet addresses.
The scams now incorporate sophisticated techniques including fake livestreams, fraudulent giveaway promotions, and deepfake video technology impersonating Ripple executives. Garlinghouse emphasized that Ripple personnel never request asset transfers, wallet credentials, or participation in investment-related video streams. He advised users to verify sources multiple times before engaging with any suspicious content, particularly as scammers exploit seasonal distractions when victims may be less vigilant about reporting fraud.
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