Ripple

Ripple accuses YouTube of facilitating XRP giveaways

Ripple has accused YouTube video hosting of deliberately facilitating fraudulent XRP giveaways. The company has appealed YouTube’s claim that the service was not aware of the fake videos.

Ripple CEO Brad Garlinghouse sued on YouTube back in April. His claim is that in March, the attackers posted a video using excerpts from an interview with a Ripple executive. The scammers urged users to deposit from 2,000 to 500,000 XRP, in return promising to send 20,000 to 50 million XRP to their address. In July, YouTube went to court to dismiss the claim, arguing that it did not promote fraudulent schemes, but could not be held responsible for content posted by users.

In turn, Ripple said that it had already sent 350 notices of violation to YouTube, so the management of the video hosting could not remain in the dark about fake videos. According to Ripple, cybercriminals uploaded videos about the distribution of cryptocurrencies every day, and not only on behalf of Ripple. Some videos received tens of thousands of views in a few hours. Ripple claims that at that time, the YouTube service chose to stay on the sidelines and not take any action, and began to take certain measures only after a few weeks or months.

Ripple has received numerous complaints from users who have lost hundreds of thousands of dollars worth of XRP. The company said it itself suffered reputational damage due to the actions of scammers and YouTube inaction. In addition, a statement from Ripple indicated that YouTube was making money from advertising in fake videos, so it was beneficial for the service to be inactive in this situation. Ripple’s management also accused YouTube of verifying one of the fraudulent channels. Earlier, Apple co-founder Steve Wozniak also filed a lawsuit on YouTube over the publication of videos with the distribution of bitcoins on his behalf.

Recall that last month Garlinghouse called on US regulators to clarify their attitude towards XRP, as due to the uncertainty with the regulation of Ripple, it itself became a defendant in a lawsuit filed by several investors. They accuse the company of selling XRP unregistered in 2013.

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