Ripple sues YouTube for damages
On April 21, a lawsuit was filed in the Northern District of California in which the plaintiffs, requested Ripple Labs and its CEO Brad Garlinghouse, requested compensation for damages against YouTube LLC.
Ripple vs Youtube
On April 21, a lawsuit was filed in the Northern District of California in which the plaintiffs, requested Ripple Labs and its CEO Brad Garlinghouse, requested compensation for damages against YouTube LLC. According to the lawsuit filed, the company behind the YouTube streaming video platform has failed to stop the XRP scammers and impersonators advertising on its platform. The goal of the lawsuit, in addition to obtaining financial redress, is to "bring about a change in behavior across the industry and set expectations for accountability," according to Ripple Labs.
Specifically, the lawsuit against YouTube is initiated for violations of the Lanham Law for trademark infringement, violations of publicity rights under California law and common law, and violations of Caliornia's unfair competition law. The XRP related scam is known as "The XRP Giveaway" and it is estimated that they have raised hundreds of thousands of dollars in XRP as a product of the scam to their victims. The operation is known as pishing attacks in which attackers seize the YouTube channels of content creators using a malicious email and from there they urge viewers to send amounts of XRP to a private address promising the return of the deposit multiplied by five.
The lawsuit openly accuses YouTube of declaring: "YouTube profits from the scam by knowingly selling paid ads on behalf of scammers posing as Ripple and Mr. Garlinghouse. These ads, called 'video discovery ads' They are designed by YouTube to appear at the top of their search results page alongside organic search results. " And further adds that: "Willful inaction by YouTube has irreparably harmed and continues to harm the Ripple brand and Mr. Garlinghouse's reputation. YouTube inaction has also harmed countless individuals who were victims of the scam. These damages will continue to grow in scope and severity if there is no intervention by the Court."