Ripple’s Legal Expert Reveals Crypto Scam Tactics and How to Stay Safe

Stuart Alderoty, Ripple’s chief legal officer, has provided a guide for navigating the often-complex world of crypto scams. His insights address common schemes, including pig butchering, pump-and-dump, fake giveaways, phishing, and impersonation. In his op-ed, Alderoty offers six key tips to help cryptocurrency holders avoid becoming victims: Never share private keys or recovery phrases; exercise caution when clicking links or receiving texts; always conduct thorough due diligence before investing; verify information from multiple sources before committing; recognize the dangers of impersonating Ripple CEO Brad Garlinghouse and other executives; and understand that crypto is not inherently more risky than other online spaces. According to U.Today, a recent warning issued by Ripple highlighted instances where scammers have used AI-powered voice cloning to create convincing fake giveaways.