A year ago, a lawsuit was filed against YouTube by Ripple because they failed to end the increasing number of XRP giveaway scams.
Ripple’s concern are people that attempt to impersonate their executives by deceiving people that they could double XRP tokens sent to a particular address.
Ripple’s CEO, Brad Garlinghouse made it known to all that YouTube and Ripple have come up with a solution that allows them to work together to prevent, detect, and eliminate these scams.
In late 2020, Ripple was involved in another lawsuit case that went into effect when the US Securities and Exchange Commission (SEC) filed in court that the company has been involved in the sale of unregistered securities.
Payment processors using the gateway insisted that XRP tokens are not securities and vowed that they’d put the committee at a disadvantage. A motion for dismissal was even filed earlier this month by Ripple.
Last year, @Ripple and I sued @YouTube for failing to enforce its own policies by allowing fake accounts (impersonating my/Ripple’s verified accounts) to conduct XRP giveaway scams. We’ve now come to a resolution to work together to prevent, detect and take down these scams. 1/3
— Brad Garlinghouse (@bgarlinghouse) March 9, 2021
Attorney for SEC, Jorge Tenreiro requested that the judge deny the motion as Ripple’s attempt to avoid liability for his actions. It is left to be seen the drift of the case between Ripple and the regulator.
