Ripple’s CEO, Brad Garlinghouse has announced that the crypto company has been able to successfully settle its lawsuit against Youtube. Ripple had filed a lawsuit against the video-sharing platform over the imposition of its CEO by crypto scammers who tried to lure unsuspecting members of the public to the scheme.
Notably, impersonation is not a wholly new trend on social media as impostors have been caught impersonating high ranking members of the society like Elon Musk, Richard Branson, Bill Gates and others. Mostly, they do this to lure unsuspecting members of the public to a fake investment plan of any other malicious activity that would be detrimental to the victims.
Garlinghouse and Ripple has posited that Youtube also profited through these impersonation schemes as it ignored the issue. At the same time, they were accused of selling the malicious actors keywords that helped their quest. Because of these reasons, Ripple filed a lawsuit against Youtube for “failing to enforce its own policies.”
While full details of the settlement are yet to be released, we know that both companies would now be working together “to prevent, detect and take down these scams” they also would be working towards tracking and retrieving these stolen funds.
