In the recent events, Ripple has taken an action against YouTube in April 2020 and have released a statement where they have stated that they gave several warnings to YouTube monitoring and regulatory authorities on a number of occasions about the fake and fraudulent videos rotating around the YouTube channel, misrepresenting the Ripple trademark and preying on people’s money.
Ripple added that they informed YouTube that there were many videos on their platform that were falsely using the Logo of Ripple as well as the likeness of their CEO (Brad Garlinghouse) in order to get more views and promote the scams. The fraudsters behind these videos made the victims to send their XRP in order to get upsized amounts and made promises that were not going to be fulfilled, to begin with.
In its defense, YouTube has filed a motion to dismiss the claims made against their willful blindness and negligence in taking down such scamming videos. They added they didn’t have the knowledge of this scam and explained that being an online platform, YouTube cannot be held responsible for any third-party content that can be uploaded at any time from any location.
However, Ripple has contested this dismissal motion from YouTube’s end by providing another statement that they sent 350 notices to the YouTube management to take down the fraudulent videos. But, YouTube remained completely irresponsible and even though they had complete knowledge of the scams, they didn’t feel it was necessary to take any action against the scams.
Ripple further added their displeasure at such an irresponsible acts from YouTube’s management, claiming that as a result of these scam videos, many Ripple users ended up losing millions of their XRP that value in hundreds of thousands of dollars. On top of this, these scams have resulted in hampering the image and reputation of Ripple in both, the crypto-currency community as well as the online community.
As a matter of fact, this is not the only time YouTube has been accused of being neglectful of the trend scams through their platform as even Steve Wozniak (Founder of Apple) alongside many other plaintiffs have already pressed (punitive damage) charges against YouTube for using his likeness for promoting Bitcoin scam videos.