Cryptocurrency News

Apple co-founder loses lawsuit against YouTube over crypto giveaway scams

Steve Wozniak YouTube has lost its lawsuit over scammers using their image to advance crypto giveaway scams on the streaming platform.

The case touches upon the responsibility of social media companies to police content posted by users. But, in a ruling yesterday, a California state judge ruled that YouTube and its parent company, Google LLC, are protected from such responsibility by federal law.

Earlier this year, Ripple CEO Brad Garlinghouse opted to settle with YouTube similar episode.

Wozniak argues that YouTube directly benefits from crypto scams

Crypto giveaway scam refers to tricksters who pretend to be famous people appealing for crypto donations. In return, the sender is assured that they will receive the multiplier back on their original donation.

Detecting scams requires common sense. However, as Charles Hoskinson, CEO of Input Output Global recently pointed out, the world lacks common sense.

Hoskinson has also suffered from scammers using his image. Victims who have lost money often reach out to them for help, till then hardly anyone is able to do so.

on that, hoskinson Allaying his frustrations, he said that he would never give free ADA. He appealed to the common sense of the people saying that nothing is free.

“I keep getting emails about giveaway scams – usually from victims. Again I would never give away free ADA. If you send ADA, you will lose it!!! I keep saying it and people’s commonsense, greed and innateness have set it. You get nothing for nothing. stop doing it

under which Section 230 of the Communication Decency ActOnline intermediaries who host or republish speech are protected from laws that might otherwise be used to legally account for what others say and do on their platform.

Still, Wozniak argued that this did not apply in his case because YouTube failed to remove the fraudulent videos, “materially contributed” to the scam by selling ads that drive traffic to the videos, and hosting Giveaways. Incorrectly verified YouTube channels, hence the added credibility with them.

Judge Sunil R. Kulkarnia said Wozniak’s arguments do not go beyond the exemption provided by Section 230. Now they have 30 days to amend their complaint.

Garlinghouse settles for unknown terms

In March 2021, Ripple Settled Its lawsuit with YouTube over allegations the social media giant failed to stop scammers from impersonating CEO Brad Garlinghouse.

Ripple argued that this has caused irreparable damage to its image, brand and reputation. This is all as a direct result of YouTube’s failure to remove the channels and videos running cheap scams.

in a series of TweetsGarlinghouse said that YouTube did not comply with its policies by allowing fake and hacked accounts to continue the scams.

Although all sides have now settled, Garlinghouse said the action at this stage is still playing “odd-a-mole”. Meaning, deleting the channel doesn’t solve the problem.

While specific settlement terms are confidential here, it is clear to all that without accountability and action, there is an erosion of trust in the industry, at a critical time when governments around the world are watching crypto closely. “

The pseudo-anonymity of cryptocurrency and the relatively lax punishment for crypto fraud only encourages scammers. Garlinghouse is right in calling for appropriate top-down measures against the problem.

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Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.