#CryptoScamSurge

After XRP hit a new all-time high earlier this week, the CEO of Ripple warned of scams targeting users of the cryptocurrency.

XRP touched $3.65 earlier this week before retreating sharply, logging a 15% pullback over three days, according to data from CoinGecko. Trading volumes remain elevated, with more than $17.4 billion in XRP changing hands over the past 24 hours.

The selloff coincided with a public alert from Ripple CEO Brad Garlinghouse, who warned Wednesday that scammers had hijacked YouTube accounts to impersonate Ripple and promote fake XRP giveaways.

“Like clockwork, with success and market rallies, scammers ramp up their attacks on the crypto community,” he tweeted. “As always, if it sounds too good to be true, it probably is.”