Holiday Crypto Alert: Ripple CEO Warns of Christmas Scams

The holiday season, while a time for joy and togetherness, also sees a surge in online scams, particularly targeting cryptocurrency holders. Ripple CEO Brad Garlinghouse has issued a strong warning to the crypto community, urging users to remain vigilant during this period.

Crypto Crime on the Rise

Reports indicate a significant increase in crypto-related crime. Chainalysis data revealed over $2.17 billion stolen from cryptocurrency services in the first half of 2025 alone, a 17% increase compared to the same period in 2022.

Ripple's Response: Project Strawberry Pie

Garlinghouse highlighted Ripple's ongoing efforts to combat scams, including the takedown of thousands of malicious websites and fake live videos. He also announced 'Strawberry Pie,' a new initiative under the Tech Against Scams Coalition, designed to foster open conversations about scams within families and communities.

Dennis Jarosch, SVP Engineering at Ripple, emphasizes the importance of education as a key tool to protect people from scams.

Red Flags to Watch Out For:

Ripple has identified several common tactics used by scammers:

• Too-Good-To-Be-True Offers: Promises of unrealistic returns, such as "Send 5 XRP and get 50 XRP back."
• Fake Identities: Scammers often create convincing fake company logos, executive profiles, and even deepfake videos to impersonate legitimate entities. Always verify information through official channels.
• Suspicious Links: Be wary of links with misspellings or unfamiliar extensions, especially those requesting wallet connections.
• Urgency Tactics: Scammers often pressure users with phrases like "act fast" or "limited time offer."
• Fake Testimonials: Don't be swayed by fabricated comments like "This worked for me!" designed to create a false sense of legitimacy.

Ripple's Security Measures

Ripple invests heavily in consumer protection, including:

• Malicious Domain Detection: Taking down over 7,000 scam websites.
• Partnership with Google Safe Browsing: Preventing access to scam websites for over 68,000 potential victims.
• YouTube Collaboration: Removing over 8,000 fraudulent "Live" videos promoting crypto scams.
• Unique Threat Feed: Contributing to a 90% reduction in XRP lost to scams.

Market Update

The crypto market is showing signs of recovery, with the total market cap rising 1.83% to $3.16 trillion. Bitcoin (BTC) is trading at $93,490.87, Ethereum (ETH) at $3,137.42, and XRP at $2.18.

Key Takeaways

• Be extra cautious during the holiday season as crypto scams tend to increase.
• Verify all offers and information through official sources.
• Never feel pressured to act quickly or share sensitive information.
• Education and open communication are crucial to preventing scams.