The scam tells people send cryptocurrency to a certain address with the promise that they will receive double in return. When users transfer, nothing is returned. This is the same strategy used on during the massive hack into accounts of personalities and companies on Twitter last month.
Actual screen shot of the scam when it was live. |
"When Twitter was hit with a massive hack of 130 celebrity accounts, they were quick to shut down the Bitcoin scam in one day. In stark contrast, YouTube knowingly allows the Bitcoin scam to continue for months. You promote it and profit from selling targeted advertising" says Joe Cotchett of Cotchett, Pitre & McCarthy, the law firm representing Wozniac.
In their defense, YouTube cites the Communications Decency Act which they say affirms the platform is not responsible for user-posted scams because the messages are not produced or approved by the YouTube.
With the legal system backed up from Covid19, it could be late 2021 until we hear more, unless the issue is settled out of court.
Author: Oliver Redding
Seattle Newsdesk
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