How Ripple Is Taking a Hard Line Against Crypto Criminals
The 2025 crypto rally, where Bitcoin, Ethereum, XRP and other coins are posting one record after another, is attracting not only investors but also more and more criminals.
The 2025 crypto rally, where Bitcoin, Ethereum, XRP and other coins are posting one record after another, is attracting not only investors but also more and more criminals. Just a few weeks ago, Ripple CEO Brad Garlinghouse warned XRP holders on X about the rising wave of fraud on social media. “As if on Swiss clockwork, scammers intensify their attacks on the crypto community as soon as there’s market recovery and success,” wrote Garlinghouse. Now his company is turning those words into actions.
Ripple Labs announced on Wednesday that it is a co-founder of the newly launched Beacon Network, an initiative led by TRM Labs to fight crypto crime in real time. The network was created in partnership with law enforcement, crypto exchanges, and stablecoin issuers, and is focused mainly on preventing illicit funds from leaking off the blockchain.
One of the most common fraud tactics: fake “crypto giveaways” where victims have to make a deposit first to supposedly get more back. To fleece XRP, criminals recently even impersonated Ripple executives in YouTube videos and other platforms.
Beacon’s founders include, in addition to Ripple, heavyweights like Coinbase, Binance, Kraken, Crypto.com, OKX, Stripe, and PayPal — which has recently stepped more decisively into crypto payments.
Meanwhile, XRP took a hit last week from the broader market correction. It’s trading at $2.92, down 11% from a week ago.
