Cryptocurrency platform sues YouTube

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Earlier, the company and its CEO had sent YouTube 350 complaints.

The cryptocurrency platform sued YouTube. Photo: expatnetwork.com

Ripple, the cryptocurrency platform for payment systems, sued YouTube for damaging the company’s image and reputation. The video hosting was accused of failing to deactivate the accounts of the scamsters who implicate Ripple CEO Brad Garlinghouse.

According to the complaint filed by the Northern California district court, a subsidiary of Google does not take any action against the fraudsters. According to the plaintiff, the scammers are promoting fake XRP tokens on behalf of Garlinghouse and Ripple in exchange for small down payments. A fraud case allegedly led to the theft of $ 15K XRP. Ripple claims the victims suffered a total loss of hundreds of US dollars.

Ripple reports that it has filed 350 complaints against scammers working on YouTube. Nevertheless, video hosting ignored complaints and also gave verified badges to such accounts.

An example of fraud is the use of a real Garlinghouse interview, in which the scammers offer users to send from 2 to 500 thousand XRP and are believed to receive 20 thousand to 5 million tokens.

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In 2019, Ripple blamed Swift for consecutive failures. According to the company, 6% of all financial transactions sent via the SWIFT network require human intervention. Since they cannot be performed correctly in automatic mode.

However, the banking community blamed Ripple for making such statements. Therefore, bank consultant Martin Walker produced a document for the London School of Economics, which questions Ripple officials’ repeated statements about Swift problems. Experts point out that Ripple’s allegations against Swift are based on a report by independent experts, where the percentage of network errors reflects the accuracy of the research model of failures rather than the actual number.

Swift itself guarantees 100% message delivery over the Swift network. However, it is assumed that delays and errors may still occur in the interbank network. As a rule, they are caused by incorrect data entry from the bank, as well as restrictions and external regulatory requirements regarding foreign exchange controls.

are you interested in – Telegraph, swift, ripple: how technology changes transmission

According to the material finextra.com


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