Ripple Is Suing YouTube

Crypto company Ripple is suing the leading video platform YouTube. This should finally put an end to the scammers who have been stealing XRP for a long time with alleged “airdrop campaigns”.

Ripple, the company behind the third-largest cryptocurrency XRP, has apparently finally lost patience with YouTube. Under the heading “ Enough is Enough: It’s Time to Protect the Community,“ the company announced an indictment against the video platform on Wednesday.

To stop fraudulent XRP “giveaway scams”

But what is it all about? Scammers on YouTube have been doing mischief for a long time, stealing their crypto money from unsuspecting users with the wrong “airdrop campaigns”, as is also known from Twitter.

The crooks claim to be giving away XRP as an official representative of Ripple. Your victims should only send a certain amount of coins to the scammers first, for example for “verification purposes”. Then they would get back a much larger amount (which of course does not happen).

To give the appearance of seriousness, the criminals steal YouTube channels with a large number of subscribers. One case that Ripple cited in the complaint as an example concerned YouTuber MarcoStyle.

The latter caught a trojan last year and only a few hours later his account was sold on a Russian trading portal for hacked YouTube channels, then renamed the Ripple (XRP) CEO Brad Garlinghouse and then used for the said scams.

Ripple now makes the following demands on YouTube: “This lawsuit calls on the video platform to do a number of things. First, to be more aggressive and proactive in identifying these scams, before they’re posted. Second, faster removal of these scams once they are identified and lastly, to not profit from these scams.”

YouTube measures hit the wrong people

It’s not that YouTube is completely inactive. However, the platform’s attempts to stop crypto fraudsters are either organized in a completely amateurish manner or deliberately target serious information channels.

As of December 2019 YouTubers will be covered with a wave of censorship. For example, Ivan on Tech, a popular channel where Ivan talks live about the latest news from the scene every morning, was struck in February when he had just started streaming. A video has been detected as “harmful or dangerous content”.

The censors hit YouTube again this month. Just last week it hit the popular channel of the trader and analyst Tone Vays with currently over 90,000 subscribers. He was not warned but immediately completely removed — deleted. Fortunately (presumably with community pressure), recovery was quick.

Author: Marko Vidrih

Featured image credit: Pixabay