Bitcoin is a digital currency, created in 2009, and it can be used to pay for goods and services. But, now bitcoin and other cryptocurrencies have been associated with a rise in scams — and one of the biggest scams is the apparent giveaway of bitcoin from Steve Wozniak. Wozniak has been known to spread the bitcoin word, but the reality is that he’s been giving away the cryptocurrency on his own website, and it has never been worth anything.
The so-called Woz has been trying to shut down Bitcoin giveaways through his social media accounts that are using his name. Here’s what happened – Wozniak posted a link to a YouTube video, saying, “Here’s a link to a really cool show. I don’t know how much longer I can do this, so please do it, because bitcoin is a monster.”
In the past, people have tried scamming Youtube through a video in which they steal peoples bitcoins or other cryptocurrency and get them to pay them back with a “free” car or some other prize. But now, it is not only people who are being scammed, but even a famous person.. Read more about is cryptocurrency legal and let us know what you think.Apple co-founder Steve Wozniak has lost a lawsuit against YouTube over a bitcoin ad scam that used his name and likeness. The judge said Youtube and its parent company, Google LLC, are protected by a federal law that shields Internet platforms from liability for content posted by users.
Bitcoin donation scam continues on YouTube as Steve Wozniak loses his lawsuit
Steve Wozniak has lost a lawsuit against YouTube over a bitcoin ad scam on the video sharing platform that fraudulently used his name and likeness. Bloomberg reports that Santa Clara County Superior Court Judge Sunil R. Kulkarni said in a preliminary ruling Wednesday: Youtube and its parent company Google LLC are protected by federal law that exempts internet platforms from liability for user-posted content. Scammers use YouTube to post videos of famous people giving away bitcoin or other cryptocurrencies like Ether. They promise to double the amount of Bitcoins sent to them. In addition to Wozniak, the scammers also used the names and images of Tesla CEO Elon Musk, Amazon CEO Jeff Bezos, Microsoft co-founder Bill Gates and Richard Branson. They also brought in well-known people in the crypto field, such as Coinbase CEO Brian Armstrong and Ethereum’s Vitalik Buterin. Back in July, Bitcoin News reported that Elon Musk had raised millions of dollars with his bitcoin donation. Wozniak and 17 other victims of fraud sued YouTube and Google last July. In their lawsuit, they argued that Section 230 of the Communications Decency Act did not apply to their case because Youtube not only failed to remove the fraudulent videos, but also substantially contributed to the fraud. Wozniak claims that the video-sharing platform profited from the scam by selling targeted ads and directing traffic to fraudulent videos after falsely verifying the scammers’ YouTube channels. Judge Kulkarnia, however, told Wozniak that these factors were insufficient to waive Section 230 immunity. It gave the Apple co-founder 30 days to review his complaint. Do you think Youtube is guilty of allowing bitcoin spending scammers to persist on its platform? Let us know your comments in the section below. Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.Fair warning: this post will be lengthy. If you want to see the video of me explaining this whole mess in more detail, just click the YouTube link above. (It’s very “in-depth”, so if you’re not interested in reading I’d skip over this part.) This whole story has been building up in my head for a while, and I’ve finally decided to go ahead and tell it. I hope this one serves as a useful lesson to others.. Read more about why is cryptocurrency valuable and let us know what you think.
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