Charles Hoskinson Threatens Twitter And Youtube With Lawsuits

Cardano’s founder Charles Hoskinson threatens Twitter and Youtube with lawsuits over crypto scams as they failed to protect their customers from these fake crypto giveaways that have been overwhelming the space so let’s read more in our latest Cardano news.

IOHK’s founder Charles Hoskinson threatened the social media platforms and addresses the growing threat of fake crypto giveaways but he also blamed social media platforms like YouTube and Twitter for being inactive on the matter and even threatened to delete his account. He mentioned that his company will investigate whether these giant companies are having a benefit from the ongoing scams or not. Giveaway scams skyrocketed in popularity over the years as their method is simple but unfortunately for some, effective. Bad actors impersonate a person or a company on social media and ask the followers to send any amount of particular cryptocurrency while promising to double it.

These conditions sound too good to be true so people usually fall as victims. Hoskinson addresses the giveaway scams in a recent video by outlining the dangers that they present for the victims and impersonated the company or an individual.

He said that people have been harmed by the scammers multiple times as they posed as IOHK, Cardano, or another team member so the real company demanded an explanation and reimbursement. In some cases, victims sent him pictures of his pets, house, or parents and said that they would get hurt if he doesn’t compensate for the losses. Hoskinson feels that social media giants can verify his account with the so-called blue checkmarks which will enhance legitimacy while making fake profiles less trustworthy but they refused to do so far.

This is why he wants to take legal action against them. Hoskinson said that IOHK will hire a former FBI agent or lawyer with one purpose-fighting these scams involving Cardano and ADA. He promised that his team will conduct an investigation that will result in a lawsuit if they determine that the companies like YouTube and Twitter are benefiting financially from transmitting the scams. He also admitted that Ripple and Steve Wozniak had almost no success with their lawsuits against YouTube but he hopes that another class-action case will somehow make these companies take the matters seriously. If the lawsuit fails too, Hoskinson is prepared to leave Twitter:

 “Maybe the solution for me is to simply leave all social media, to begin with. And then we can broadcast through our official accounts that every single Charles Hoskinson Facebook page, Instagram page, Twitter feed, YouTube channel is simply fake. Maybe that’s the solution that we are forced to do – self de-platforming.”