Social Media
Brad Garlinghouse, CEO of Ripple, stated via Twitter that “social media companies have failed to police their platforms from being abused by the entirely preventable imposter giveaway scams”. As a result, Ripple will be suing YouTube as he called them the “epicenter for imposter scams”.
At the beginning of last year, an Instagram impersonating account of the CEO was not taken down for several weeks after relentless reporting from his side, only to receive an answer stating the account is not violating their community guidelines.
Giveaway Scams
The scammers use these platforms to lure in vulnerable individuals to “donate" their hard-earned money. They tend to use what looks like a reputable account by impersonating well-known figures such as Brad Garlinghouse, Elon Musk or even Donald Trump. They falsely promise individuals that if they send money, they will receive back a larger sum.
Ripple has clearly stated: “We want to make it known that neither Ripple, nor any executive of our company, has offered—or ever will offer—free giveaways of digital assets. Any XRP giveaway is not endorsed by, affiliated with, maintained, authorized or sponsored by our company”.
The Lawsuit
The lawsuit drawn up by Ripple’s lawyers against YouTube states that these scam giveaways is a third-party attack on the company’s and the CEO’s reputation. Attacks that YouTube has the power to terminate and have been urged to do so via complaints from Ripple.
According to the lawsuit: “YouTube refuses, even where the same scheme is replicated time and again on its platform. YouTube’s response has been woefully inadequate and incomplete. As a result, Ripple and Mr. Garlinghouse continue to suffer substantial reputational harm”.
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