YouTube: We are not Responsible for Crypto Scams

Kataryna Kovtun July 22, 2020


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YouTube video hosting claims that it is not immune to cryptocurrency fraud, which is built in the form of video content or descriptions.

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In April, Ripple’s lawyers and CEO Brad Garlinghouse filed a lawsuit against the video hosting for failing to stop XRP scammers. That being said, Garlinghouse and his team argue that the platform benefits from fraudulent activities by generating revenue from advertising.

In Response:

According to the July 21 announcement, lawyers of the company are citing articles of the law that protect platforms from liability for information provided by third parties.

YouTube says that the inadvertent detection of fraudulent channels does not change the fact that the content is created by third parties and not by the video hosting service itself. The site’s lawyers also point to the fact that even Ripple itself does not claim in its lawsuit that it is YouTube that “solicits, encourages or participates in fraud,” and therefore the platform cannot be held liable.

Ripple’s lawsuit cites 305 cases in which channels specifically impersonated Brad Garlinghouse. Some scammers have taken over popular non-crypto currency channels and changed their content.

Public use rights also include protecting names, marks, images, and voices from illegal commercial use, according to lawyers. While the Ripple lawsuit speaks of the use of the name of Brad Garlinghouse, and not things related to YouTube by the attackers.

Other Victims of Crypto Scammers on Youtube

Brad Garlinghouse’s Ripple company isn’t the only victim of cryptocurrency scams on YouTube. In June, scammers imitated the channel of the entrepreneur Elon Musk, who “asked” to send bitcoins to the addresses he indicated.

Read about crypto scammers on Youtube here…

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