The latest YouTube XRP scam is using the chief executive officer (CEO) of Ripple XRP Brad Garlinghouse as a reinforcing bait to operate.
Youtube has always followed a strict rule against content related to cryptocurrency; however, lately, the popular video playing site has been having trouble locating a fake account.
It was the crypto community who found out on 23rd march that a fake account was impersonating Brad Garlinghouse, CEO of Ripple. The fake account was made to endorse airdrop Ripple XRP.
@YouTube @bgarlinghouse @Ripple @JoelKatz someone has created a YT account as Brad Garlinghouse and is using this video to promote an xrp airdrop scam. @YouTube you need to shut this down #XRP #xrpthestandard #Ripple pic.twitter.com/T1fZzkHg7f
— Andy_SPQR ⚡️ (@AndySpqr) March 23, 2020
YouTube XRP scam fake video showcases XRP airdrop
The fake YouTube XRP scam account impersonating the Ripple CEO has around 277,000 subscribers and contains only one video that was posted on the 19th of March. The video endorses an imaginary airdrop having a worth of 50 million XRP.
An important distinction here is that the video itself is not a fake one, it is an interview Brad Garlinghouse gave in February; however, the description is where the scam lies, Brad himself hasn’t stated anything despite numerous reports mentioning his name.
The trickster asks users to send XRP currency between the range of 2,000 XRP to 500,000 XRP to his crypto address to compete in exchange for direct airdrop of 20,000 XRP to 5 million XRP.
A potential reason could be fraudsters buying Youtube channels with a large number of subscribers.
The co-founder of SPQR Media was the first to report the fraud on the 23rd of March and stated that the scam channel was receiving funding for its fake promotions.
The co-founder furthers that he hastily tweeted to report the scam channel. According to the official, the channel was made possible due to Youtube’s policy for allowing people to buy channels from each other.