Fraud
YouTube is being sued by Ripple Labs and their CEO Brad Garlinghouse for not monitoring the platform, where there has been fake XRP giveaways. Ripple has said that they have sent 25 different takedown notices, without any action from YouTube.
These ‘XRP Giveaway’ scams are based on sending in XRP to then recieve more in return. This is of course not true.
Garlinghouse has gone out on twitter and publicly shamed YouTube for being irresponsible.
According to the suit, Ripple alleges the scammers have successfully defrauded “millions of XRP valued at hundreds of thousands of dollars” out of victims. It cited at least one instance where a scammer apparently received $15,000 in XRP from a victim.
Read more about the case in the suit here: