Steve Wozniak is the lesser-known co-founder of the multibillion-dollar tech company Apple Inc. A few days ago, a questionable private channel on YouTube created a video that used Wozniak’s image and video clips for conducting a crypto scam. The video showed endorsements by the Apple co-founder about how he is calling out for sending digital assets to a set address.
In return, the scammers promised to double the amount of the digital asset that the unsuspecting spectators have submitted. Wozniak launched a lawsuit on YouTube for failing to take action against the channel and removing the fraudulent videos that used his names and images. It should be noted that during the current crypto fever, the rapidly growing crypto scams have become a matter of grave concern for many.
YouTube once again on the Target of the Crypto Community for being used as a Tool to Enable Crypto Scams
YouTube, recently acquired by Google LLC, was sued in the court of law in 2020 to play the part of the crypto scam promoter. A few days ago, the world’s largest and most popular streaming service once again encountered lawsuits from prominent figures in the tech community. The court dismissed the Steve Wozniak case, stating that YouTube is immune from the content that its independent users post.
However, Wozniak claims that the Communication Decency Act does not apply to this particular lawsuit. He argues that YouTube algorithms promoted the scam videos and incentivized the channel by helping it reach a great number of users. The same scam publishers have also used fake crypto endorsements from other well-known figures in the tech circle like Bill Gates, Elon Musk, and Mark Cuban.
By the day, it seems that YouTube community posting rules are changing. However, at the same time, the overall directory of the streaming services is growing so fast that it seems that a lot of policy breaches have become more visible. Google has recently decided to ease up on its crypto-related ad policies. However, it is needed that a lot more resources go into the process to retain the secure status of the platform.
Many users have become increasingly concerned about believing in the authenticity of the content that is being uploaded on YouTube. It is needed that a new and comprehensive regulatory control system is introduced on the platform to maintain the product quality and avoid incidents like crypto scams.