Ripple’s lawsuit against YouTube of cryptocurrency scammers impersonating Ripple CEO Brad Garlinghouse, has been smoothly settled. Both will also jointly sponsor charity sharing to the victims in this scam.

Ripple CEO Brad Garlinghouse officially announced on March 9 that the company smoothly settled a lawsuit it filed to YouTube about a series of videos in which the impostors were upload Garlinghouse clips to take advantage of various cryptocurrency scams.

Ripple filed a lawsuit against YouTube in April 2020, claiming that the Google-owned company ignored the problem and even made a profit by allowing scammers to buy keywords to help them target them. crypto enthusiasts.

Garlinghouse further shared that the legal agreement will involve YouTube and Ripple sponsoring a nonprofit, together to help victims of cybercrime. Ripple declined to provide additional details, such as how much the companies will contribute, and whether the fund offers cash compensation.

Ultimately, the CEO of Ripple stated that he devoted considerable resources to controlling bad guys when he was a senior CEO of Yahoo.

“I’ve been in Silicon Valley for 24 years. Not only do all major technology platforms hold accountable responsibility for ownership of what they are doing, but also for how to deal with a problem that is being abused.

The phenomenon of scammers using social media to steal the names and images of famous executives has been common not only in the crypto world but also in the business world in general. Recently, there was an incident of $ 243,153 Bitcoin that was just sent to the fraudulent wallet address “Elon Musk”.