(Reject Double up) Apple Co-founder Files a Suit Against YouTube for Bitcoin Scam Impersonation

Steve Wozniak, Apple Inc. co-founder, has sued YouTube for permitting scammers to utilize his likeness and name in a phony Bitcoin scheme that has tarnished his name. As reported by Bloomberg on July 23, scammers had hosted a live giveaway and impersonated him to defraud unsuspecting victims that Bitcoin sent would be doubled. 

YouTube’s laxity

As per the lawsuit filed in a San Mateo County state court in California, Wozniak claimed that YouTube showed laxity in addressing the issue despite his frequent requests to have the scammers’ videos taken down. 

Wozniak is enjoined in the case with 17 others and is seeking punitive and compensatory damages.

According to the announcement, “Wozniak sued along with 17 other alleged victims of the scam. They are asking the court to order YouTube and its parent company Alphabet Inc. to remove the videos immediately and to warn users about the scam giveaways. They are also seeking compensatory and punitive damages.”

Wozniak attested that if YouTube had acted swiftly, the damage would have been averted, but it seems the company’s response is dependent on algorithms. Nevertheless, YouTube defended itself by stipulating that it carries out quick action if its policies are bleached, including impersonation and scams. 

Bitcoin doubling is the new scam in town

Scammers have gone a notch higher to sway their victims by promising them that Bitcoin sent to the given address will be doubled. Twitter was recently on the receiving end after scammers hacked profiles of prominent figures, such as Elon Musk, Bill Gates, Joe Biden, Jeff Bezos, and lured victims to send Bitcoin with the promise of it being doubled, and in a matter of hours, at least $120,000 was lost.

However, there seems to be light at the end of the tunnel when addressing this issue as cryptocurrency intelligence company CipherTrace has unveiled a predictive risk-scoring model to mitigate money laundering of cryptocurrencies from theft and ransomware attacks in real-time. 

Wozniak lawsuit is also intended to create awareness about the Bitcoin doubling scam giveaways that are continuously making airwaves in social media platforms like Twitter and YouTube.