SAN FRANCISCO (Reuters) – Blockchain firm Ripple sued Alphabet Inc’s YouTube on Tuesday, alleging the video-sharing platform failed to protect consumers from cryptocurrency “giveaway” scams that use fake social media profiles to dupe victims into sending money.
FILE PHOTO: A 3D-printed YouTube icon is seen in front of a displayed YouTube logo in this illustration taken October 25, 2017. REUTERS/Dado Ruvic/Ilustration/File Photo
The company says scammers on YouTube have been impersonating Ripple and its chief executive, Brad Garlinghouse, to bait viewers into sending them thousands of dollars worth of XRP, a cryptocurrency championed by Ripple, according to a court filing.
The scammers promise to send back up to 5 million XRP, worth nearly $1 million, but victims who participate in the fake “giveaways” never receive any money in return, said the filing.
Ripple says it wants the case to be a “call to action” for the social media industry to stop their platforms from…
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