Ripple Files Lawsuit Against YouTube for not Stoping Fake XRP Giveaway Scams
CEO, Brad Garglinghouse and his company distributed ledger firm Ripple have registered a case against video-sharing collaborator YouTube.
YouTube is sub-ordinate of Google and is being appealed for its legal action on the issue of fake deception that has caught Garlinghouse between other business leaders.
A report by Fortune’s Jeff Roberts, Ripple, and Garlinghouse is hunting an identified amount of damages.
The complaints state that “Ripple and Mr. Garlinghouse have suffered—and continue to suffer—irreparable harm to their public image, brand, and reputation as a direct consequence of youtube’s deliberate and inexplicable failure to address a pervasive and injurious fraud occurring on its platform.”
It goes in allege :
“This fraud—often and dubiously named “the XRP 1 Giveaway” (the “Scam”)—is a third- party attack on Ripple’s brand, Mr. Garlinghouse’s reputation, and XRP holders worldwide. To be sure,the Scam—a pervasive and extended course of conduct detailed in the allegations that follow—often relies upon spear phishing attacks, hacked YouTube accounts, and the misappropriation of Mr.Garlinghouse’s likeness and Ripple marks. But it also depends on, and thrives because of, YouTube’s complacency and unwillingness to take seriously Ripple’s repeated demands for action.”
One example found on YouTube An interrogation is escorted by information in the explanation that inspires participants to “send between 2 000 XRP to 500 000 XRP to the contribution address and we will immediately send you back between 20 000 XRP to 5 000 000 XRP to the address you sent it from.”
This legal move by Ripple and Garlinghouse has filed a case that is neglected by YouTube.
“YouTube generated $15 billion in ad revenue last year, and you’re telling me they can’t spend more money to police obvious scams that violate their own terms of service?” Garlinghouse told Fortune.
YouTube representative said:
“We take the abuse of our platform seriously, and take action quickly when we detect violations of our policies, such as scams or impersonation.”
