Everyone is familiar with the dispute between Ripple and Youtube that has been gaining quite a lot of attention. Impersonation is vicious and has dire consequences.
Online scammers are the worst of their kind as they use names and pictures of respected figures to promote fake products and services. They’re not just doing it in the crypto-industry but across many industries. Previously they’ve targeted many prominent men such as Richard Branson and even Elon Musk for such nefarious activities.
But while YouTube didn’t encourage it, Ripple didn’t take it lightly with them. Scammers uploaded a video where Brad Garlinghouse was supposedly promoting many crypto hustles. As a result, Ripple filed a lawsuit against them for the impersonation of the CEO.
The CEO and Ripple insisted that YouTube didn’t address the problem last April but instead turned a blind eye to it. They reasoned that YouTube allowed the scammers to purchase such keywords that’ll enable them to scam crypto enthusiasts.
But according to Ripple CEO’s tweets, Ripple has settled with YouTube and the Lawsuit is over. The result of the settlement will be a collaboration between Ripple and YouTube to detect, prevent and pull down the scams.
In his tweets also, Garlinghouse disclosed that the company is working with one forensic company in a bid to get the funds back. But he also encouraged the social media companies to do better than what they’re doing to prevent scams.
Ripple and YouTube Lawsuit Settles, Brad Garlinghouse Shares Details
According to Garlinghouse, the settlement between both giants will involve a formation of a non-profit organization that’ll help cybercrime victims. But as for details on the contributions by the two companies, he withheld such information. Although he promised that after the legal work, he’d disclose it all.
However, the Ripple CEO couldn’t help but express his frustration about how the social media platforms are ignoring the scammers. According to him, they should do more and eliminate imposters from their platforms.
He cited an incident where he reported to Instagram that someone is parading as Brad Garlinghouse. But the company replied that the account was not impersonating him. He also disclosed that many victims of online scams had threatened him thinking he scammed them.
Tech-Related Firms to Strengthen Security
In Garlinghouse’s opinion, tech companies should do more about the abuse going on online. They shouldn’t allow miscreants to abuse the services. He pointed out that when he was working as a senior executive at the globally respected Yahoo, he focused large resources on fighting bad actors.
He also expressed his support to calls that could lead to Section 230 reformation so that tech companies can become liable for users’ behavior.
His reason for this may be because a judge threw out the lawsuit against YouTube on the grounds of Section 230. According to the judge, YouTube was also hijacked, so the company is not liable. However, Google is yet to respond about the settlement.