Bitcoin is a virtual online currency that has been gaining popularity in recent years, and like all currencies, it is subject to fraud and scams. One of the most well-known scams is that it is impossible to stop scammers from stealing your Bitcoin, which is why some people believe the best response is to buy Bitcoin and forget about it. Unfortunately, this is not a good idea since Bitcoin thieves are getting better and their tactics are becoming more sophisticated.
It’s been a long time coming, but the U.S. Supreme Court has ruled that Apple co-founder Steve Wozniak can’t blame YouTube for Bitcoin scams that cost him hundreds of thousands of dollars.
In a case of first impression, a federal appeals court has ruled that Wozniak has no recourse against YouTube for facilitating Bitcoin scams. The case involved a 2014 post on YouTube in which Wozniak criticized Bitcoin, calling it a “Ponzi scheme.” The post prompted a wave of negative comments, and when Wozniak tried to remove the comments, he discovered that YouTube was allowing them to remain on his account. YouTube eventually removed the comments, but not before Wozniak became the target of another wave of Bitcoin-related comments.A California judge has ruled that Steve Wozniak, co-founder of tech giant Apple, cannot sue YouTube over bitcoin scam videos that used his likeness, Bloomberg reports today. In his lawsuit, filed last July, Wozniak claims that unknown attackers used his photos and videos to steal bitcoins from YouTube users. The scam itself was a tried-and-true one, asking users to send in cryptocurrencies to get double the amount back. But when users transfer their cryptocurrencies, in an irreversible transaction, they get nothing in return, Wozniak said at the time in his lawsuit.
Section 230 wins again
He also argued that section 230 of the Communications Decency Act, which protects Internet platforms from liability for content posted by their users, should apply in this case. YouTube not only failed to respond to Wozniak’s requests to remove the fraudulent videos, but also materially supported the scammers by running targeted ads and rating fictitious channels. According to the lawsuit, the videos also used the names and images of other celebrities, including Bill Gates, co-founder of Microsoft, and Elon Musk, CEO of Tesla. Santa Clara County Superior Court Judge Sunil R. Kulkarni, however, said Wozniak’s arguments were insufficient to circumvent Section 230. As a result, the court ruled that YouTube retains immunity from suit. Nevertheless, Wozniak was given an additional 30 days to reconsider his complaint.
Fraudsters posing as persons
According to reports, images of prominent tech celebrities are often used by scammers to fool their unsuspecting victims. In mid-March, for example, Elon Musk’s bitcoin donation scam on Twitter caused a user to lose 10 bitcoins that were worth more than $550,000 at the time. Meanwhile, 2021 could already be a record year for cryptocurrency sales fraud. We don’t have data to explain it, but it could be related to the broader bitcoin market. When the price of bitcoin goes up, people go crazy, and many of them are new to the market and want money fast, Frank van Wirth, founder of Whale Alert, told the BBC earlier this year.
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YouTube rival Google (which was bought by Google and has since rebranded to Alphabet) recently ran into legal trouble when a New York court ruled that it was NOT responsible for the actions of its users. Among the claimants was the late Steve Jobs, who was apparently a victim of a Bitcoin scams that were linked to a YouTube video. The court concluded that YouTube did not actively encourage money transfer from the ad platform, even though it was possible to embed a link to Bitcoin-related scams in YouTube videos.. Read more about steve wozniak crypto coin and let us know what you think.
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