Dogocoin co-founder Jackson Palmer has slammed video hosting giant YouTube in a recent tweet for failing to crack down on Elon Musk-related scam livestreams.
Palmer has managed to find plenty of scam streams by simply searching the centibillionaire’s name. Palmer has heard a theory that the real reason why YouTube is doing nothing about the problem is that stopping Elon Musk scam streams would deprive it of ad revenue.
“That's just really disheartening if the case,” the Dogecoin co-founder said. YouTube has faced plenty of criticism for failing to stop scam ads. Fake videos featuring Musk and other prominent personalities are currently being watched by thousands of people.
Scammers typically try to fall their victims into sending them crypto with the help of too-good-to-be-true promises.
As noted by Palmer, some such scam videos are popping up in the recommendations sidebar.
Palmer finds it surprising that Ark Invest’s Cathie Wood is yet to contact YouTube in order to deal with teeming cryptocurrency scams.
Blockchain company Ripple took YouTube to court for failing to remove scam videos with CEO Brad Garlinghouse before settling with the company in 2021.