YouTube and Twitter are popular gathering places for scammers, where supposedly well-known representatives of the crypto market, such as Vitalik BUTERIN or Brad GARLINGHOUSE, give out ETH or XRP for free. Fraudsters manage to gain access to official accounts or create accounts that are similar to the alleged original.
Ripple Labs and its CEO Brad Garlinghouse have sued the YouTube platform for not taking any action against XRP scams. This reportedly caused reputational and financial damage to the company. Garlinghouse believes that YouTube is the epicenter of these fraudulent activities, Instagram and Twitter are also mentioned.
Ripple has already contacted YouTube several times and has requested that more than 25 different fake accounts be closed or deleted. However, the platform failed to take proper measures. Garlinghouse requires the platform to take tough measures, respond faster and improve fraud monitoring. To date, according to the CEO of Ripple, a satisfactory result has not been achieved, so he was forced to go to court. The lawsuit claims that millions of XRPs in the equivalent of hundreds of thousands of dollars are stolen. He suspects that YouTube supports scammers and benefits from their revenue.
Image courtesy of 2Bitcoins