Youtube video sharing platform was under pressure from a lawsuit filed by Ripple in April 2020 blaming it for supporting crypto scams. Youtube responded to the April lawsuit citing the site failed to stop XRP scammers and impersonators from doing so.
According to today ‘s report, Law 360, the legal team representing Youtube referred to Section 230 of the Communications Decency Act during a dismissal bid; claimed that the publisher was not liable for any information provided on the platform by a third party. In that case, Garlinghouse accused the video-sharing platform of benefiting crypto scammers from Paid Advertisements.YouTube said that it is not Youtube ‘s fault for cryptocurrency scammers using its platform
The lawyers argued that it was completely unwise to accuse the video publisher of content that it had not created. In addition, Youtube’s verification of the scam channels did not in any way change the fact that the channels were the product of third parties.
Since the video-sharing platform did not solicit, encourage or participate in third party video scams, Ripple had no reason to back the accusation.
Youtube Scams Include Identity Theft, Impersonation and Phishing
A Forbes post on Youtube scams indicated that much of the scamming on the platform involved phishing the credit card, promising traffic spikes, identity theft and impersonation. Ripple ‘s lawsuit provided Ripple Executive Brad Garlinghouse had been impersonated by at least 305 youtube channels.
The lawsuit argued how the fraudsters took over entirely unrelated but verified channels, modified the branding, content and layout to make it look more like a legitimate crypto-currency giveaway.
Cryptocurrency scammers on Youtube not only impersonated the CEO of Ripple but also a variety of key figures in the fintech industry, according to the lawsuit’s filings. With that they could scam hundreds of thousands of subscribers. Nevertheless, the legal team of Youtube argued that the right to publicity law protected the names, voices or images of individuals from being used for any commercial gain; without the owners’ prior permission.
Recently, a twitter hack staged the famous “ double your money”; through twitter profiles of influential leaders such as Barack Obama, Elon Musk and Bill Gates. Social media platforms and blockchain projects are at the onset of a cyber criminal bubble, and most of them are taking initiative to protect users from fraud and identity theft.