Because of the fraudulent scams on its video-sharing platform, Youtube is being sued by the cryptocurrency giant.
Specifically, cryptocurrency blockchain company Ripple and Ripple CEO Brad Garlinghouse have officially filed a lawsuit to Youtube.
The reason is because YouTube does not protect users against scams for XRP, impersonating Ripple and Ripple CEO Brad Garlinghouse.
The complaint states that Ripple and Mr. Garlinghouse have suffered and continue to suffer irreparable damage to fraudulent, fraudulent images. Their brand and reputation are affected by Youtube's efforts to stop these scams on its platform
Found on YouTube, a video of Ripple CEO Brad Garlinghouse is being interviewed with information in the description encouraging viewers to send XRP to them.
Send from 2,000 XRP to 500,000 XRP to the donation address, and we will immediately send you back 20,000 to 5,000,000 XRP to the address you sent earlier.
They have set up a fake Ripple Youtube channel and uploaded videos related to Ripple or Mr. Brad Garlinghouse to entice viewers to send XRP to their wallet address.
These guys promise to send back the XRP many times that the victim had sent before but eventually the victim will never get the XRP again.
Ripple and Garlinghouse allege that YouTube is ignoring and not stopping these scams to protect users.
YouTube made $ 15 billion in advertising revenue last year but it couldn't afford to spend more money on police to investigate scams on its own platform to protect their users, Garlinghouse said.
Currently, YouTube has not spoken about this incident.
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