Ripple accuses Youtube of Neglecting Warnings Issued about XRP Giveaway Scams

Ripple argues about Youtube’s claims that it knew nothing about XRP scams on its site, as it cautioned the video platform hundreds of times.

By · Sep 10, 2020 . 5min read

Ripple Youtube lawsuit news

Blockchain company, Ripple sued YouTube for its incomprehensible defeat at preventing scammers from impersonating its CEO. YouTube filed a plan to dismiss the suit in July. It claimed that it didn’t intentionally mesh in any scams. Thus, as an online platform, it can’t be held responsible for third-party content. Ripple disputed this claim. The blockchain payments firm elucidated that the 350 takedown notices it transmitted to Youtube indicates that it knew all about the scams but chose not to act.

Ripple Warned Youtube about Giveaway Scams

In April, Ripple cited the video platform of trading ads, verifying accounts that support fake cryptocurrency giveaways, and ignoring the complaints. Ripple runs an exchange network for the digital currency XRP, which helps people to send digital money globally. Over the past several months, scammers developed official-sounding accounts for Ripple and its CEO Brad Garlinghouse.

Some of the accounts were stolen from flourishing YouTubers who had their accounts hacked. This provided the scammers hundreds and thousands of subscribers. As a result, they could post videos offering big XRP rewards in exchange for smaller initial payments, thus deceiving viewers who believed they were watching Ripple’s official channel.

Ripple dates the issue to November of last year, stating it offered approximately 350 complaints about imitation or scamming. However, it asserts that YouTube neglected or otherwise failed to approach many of them. In one case, it gave a hacked channel an official verification badge. However, Ripple says that even after informing about the scam, YouTube continued to accept paid ads related to it.

The result was an invasion of messages from people who considered Ripple had stolen their money or hacked their accounts. Additionally, it also blames YouTube of contributory trademark infringement for ignoring complaints and continuing to accept cash for the fake ads.

Earlier we also reported on how Youtube has lately been unresponsive in terms of hacks on its platform. There is a substantial rise in number of crypto related hacks on Youtube. Recently, Carry Minati, the Indian Youtuber’s account too was a victim of Bitcoin-related hack.

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