Ripple CEO issues harsh warning on online scams this Christmas
The Wild West of crypto is no stranger to scams and hacks, and this year has been no different.
Whether it's an institutional giant or a retail crypto trader, nobody could escape the increasingly sophisticated traps of scammers.
The on-chain analysis platform Chainalysis revealed in the "2025 Crypto Crime Mid-year Update" on July 17 that over $2.17 billion had been stolen from cryptocurrency services by then.
In fact, by the end of June 2025, 17% more value had been stolen year-to-date (YTD) than in 2022 — previously the worst year on record.
Crypto crime is no longer limited to virtual attacks. Physically violent attacks have also risen during periods of market rally, the report said.
Related: 'Largest online black market' shuts down
Ripple CEO asks crypto users to stay vigilant on Christmas
Ripple CEO Brad Garlinghouse shared a message on Dec. 2, asking the trading community to stay alert around Christmas. He also talked about a new security initiative called Scamberry Pie that aims to help protect traders from online scams.
Garlinghouse took the opportunity to thank the security team at Ripple for combating tens of thousands of malicious websites and fake live videos to protect XRP holders.
This Christmas, stay vigilant! Check out https://t.co/FxEyQnzgaB for more info on how to protect yourself and your loved ones from online scams. Proud to partner with Match Group, Cash App, National Cryptocurrency Association and Coinbase on this campaign.
— Brad Garlinghouse (@bgarlinghouse) December 2, 2025
Also a big shout out… https://t.co/pUqNSgjEwk
Scamberry Pie to educate users about crypto scams
Ripple, along with other tech giants such as Meta (Nasdaq: META), Match Group, and Coinbase (Nasdaq: COIN), has come together as a united front called Tech Against Scams Coalition to battle financial scams.
Scamberry Pie is a new holiday initiative by the Tech Against Scams Coalition that aims to start conversations about scams so that such disastrous events don't get lost in the silence of embarrassment and shame and everyone can learn from past incidents.
Dennis Jarosch, SVP Engineering at Ripple, said, “Scamberry Pie creates a simple moment for families and communities to talk openly about warning signs, share experiences, and look out for one another.”
“Education is one of the strongest tools we have to protect people from scams.”
Though festivals bring families together for meals and celebration, it is often a time when scammers are hunting for prey amid a boom in online shopping and sale offers.
Ripple shared a few examples of red flags of how a scammer could try stealing a holder's XRP tokens around Christmas.
An offer like “Send 5 XRP and get 50 XRP back” are too good to be true and scammers often make such fake promises.
Scammers can create fake company logos, executive profiles, AI-generated voice cloning or deepfake videos, etc. that look almost the same as real entities and try stealing funds. It is recommended to verify online profiles with official Ripple channels and websites.
Scammers can also send links to make payments but misspellings or unfamiliar extensions should make you alert. If a link asks you to connect a crypto wallet, pause and verify, Ripple warned.
Users must never come under pressure from scammers who are trying to push an urgent offer. Phrases like “act fast” or “limited time” are red flags, Ripple noted.
Don't get influenced by comments like “This worked for me!” or “Thanks for doubling my crypto!” Often, the scammers are posting such comments to gain legitimacy.
More News:
- XRP losses hit corporate crypto treasury firm
- 5-star investor issues harsh warning to XRP holders
- Ripple CEO weighs in on XRP staking debate
How Ripple handles crypto scams
In the latest post, Ripple also shared that it invests heavily in consumer protection.
- Sophisticated malicious domain detection has helped Ripple take down more than 7,000 scam websites.
- Ripple's partnership with Google Safe Browsing has prevented over 68,000 potential victims from accessing scam websites by labeling them as dangerous in Google Chrome.
- Ripple's partnership with YouTube led to the removal of over 8,000 fraudulent “Live” videos promoting crypto scams.
- Launched in 2024, Ripple’s unique threat feed has contributed to over 90% reduction in XRP lost to scams across known reports.
Crypto market attempts recovery
The crypto market attempted a recovery from the crash as the total market cap rose 1.83% in the last 24 hours to $3.16 trillion.
Bitcoin (BTC) rose 1.87% in a day to trade at $93,490.87, Ethereum (ETH) 3.92% to $3,137.42, and XRP 0.85% to $2.18.
Related: XRP rallies on ETF momentum, flashing 'very bullish' trend
