Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ripple Sues YouTube, Alleges Failure to Stop Crypto Scammers Causing Irreparable Harm

by Daily Hodl Staff
April 21, 2020
in Ripple and XRP
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

The payments firm Ripple and its CEO Brad Garlinghouse are suing YouTube, accusing the media giant of failing to adequately address cryptocurrency scams on its platform.

Cyber thieves are using YouTube, in addition to other social platforms, to launch so-called giveaway scams and steal cryptocurrencies such as Bitcoin, Ethereum and XRP. The scammers launch livestreams using the images of leading tech figures and companies, trying to convince people to send small amounts of cryptocurrency to an address in order to receive a larger sum in return – which never comes.

Scams impersonating Bill Gates and Brad Garlinghouse have recently surfaced on YouTube, and Ripple and its CEO are asking for an unspecified amount of compensation from YouTube for allegedly failing to take action and causing damage to their reputation.

“Over the past several months, Ripple and Mr. Garlinghouse have suffered – and continue to suffer –irreparable harm to their public image, brand, and reputation as a direct consequence of YouTube’s deliberate and inexplicable failure to address a pervasive and injurious fraud occurring on its platform.

This fraud – often and dubiously named ‘the XRP 1 Giveaway’ (the ‘Scam’) – is a third-party attack on Ripple’s brand, Mr. Garlinghouse’s reputation, and XRP holders worldwide. To be sure,the Scam – a pervasive and extended course of conduct detailed in the allegations that follow – often relies upon spear phishing attacks, hacked YouTube accounts, and the misappropriation of Mr. Garlinghouse’s likeness and Ripple marks. But it also depends on, and thrives because of, YouTube’s complacency and unwillingness to take seriously Ripple’s repeated demands for action.”

The lawsuit also accuses YouTube itself of profiting off of the scams by allowing the fraudsters to purchase ads promoting their videos.

“The use of Ripple’s trademarks and Mr. Garlinghouse’s likeness in these accounts has caused customer confusion. This confusion has led individuals to fall victim to the Scam because they (erroneously) understood these accounts to be legitimate and formally affiliated with Ripple. This confusion will continue absent a court order.

YouTube also generates revenue from the infringing conduct, including after it was informed of the Scam. YouTube has sold – and will continue to sell – paid ads to the fraudsters engaged in the infringing conduct. When a YouTube user clicks on such a “video discovery ad,” he or she is taken directly to a YouTube channel that is running the Scam. YouTube thus profits from the infringement of Ripple’s marks.”

You can view the complete filing here.



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Valery Evlakhov

Submit a Press Release

Crypto Livewire – Press Releases

  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
  • What’s the Role of Bots in Crypto Trading?
    December 3, 2020
Submit a Guest Post
Bitcoin
$36,670.00
$36,670.00
1.66%
Ethereum
$1,331.10
$1,331.10
8.92%
XRP
$0.306186
$0.306186
10.19%
Litecoin
$161.12
$161.12
12.92%
Bitcoin Cash
$519.21
$519.21
8.22%

Spotlight

  • Top Crypto Lawyer Says New SEC Chief Will Boost Bitcoin – But XRP Is Another Story
    January 13, 2021
  • Billionaire Investor Says Central Banks Will Stop at Nothing To Clamp Down on Bitcoin
    January 17, 2021
  • Top US Banking Regulator Grants Federal Charter to Crypto Firm Anchorage
    January 14, 2021
  • Prominent Analyst Says Three Crypto Assets Will Follow Polkadot’s Raging Rally and Surpass XRP
    January 18, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.