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Ripple files lawsuit against YouTube
Fraud allegedly tolerated
Ripple CEO receives threats
Crypto company Ripple and CEO Brad Garlinghouse have filed a lawsuit against YouTube at the San Francisco Federal Court, according to a Fortune report. The allegation is that the video platform is said to have failed to act against fraud, which has damaged Ripple’s image. YouTube is accused of unfair competition and violation of Garlinghouse’s public law.
Ripple scam on YouTube – what happened
As is said to have happened in other social networks, fraudsters are said to have used prominent brands or names to distribute giveaways: Victims are asked to send smaller sums in order to get a bigger profit – but ultimately get nothing.
On YouTube, it is said that hackers have infiltrated channels to replace videos with such scams. The scam showed ripple videos with Garlinghouse several times in an interview and then invited them to supposed gifts that should contain XRP. – Trade Bitcoin with Plus 500 – how it works. 76.4% of retail CFD accounts lose money. – According to the indictment, YouTube, on whose platform the whole thing was playing, failed to counter the dissemination of such fraudulent content. Instead, the video service even benefited from promotions placed in the videos. In particular, since the plaintiff claims to have addressed and complained to YouTube in numerous messages, the video network and the actually commissioned third-party company, which is supposed to unleash such fraud, are accused of inaction. “But in this case, given the ubiquitous fraud, YouTube chose to remain idle, and continues to do so,” Fortune quotes the lawsuit.
Disgruntled Ripple CEO: Received Victim Threats
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Does Ripple’s legal battle stir up bigger waves?
However, a law, commonly known as paragraph 230, shields Internet companies from being held accountable for user actions. However, since Garlinghouse places the main focus of the lawsuit on his trademark damage, he could be successful, mutmat Fortune. This beginning legal dispute could also be accepted at the political level. Section 230 is a thorn in the side of US legislators, which is why restrictions have already been imposed in order to impose more legal obligations on those responsible.
How YouTube responds to Ripple’s lawsuit
The video platform defends itself against the serious allegations by the Ripple CEO that they ignored the scam videos. “We take the abuse of our platform seriously and take swift action if we discover violations of our own guidelines (such as attempts at fraud and imitations),” said YouTube.
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