YouTube has been dragged into a class action lawsuit against Bitconnect for failure to protect its users from coming into contact with the video of the scam. This case can be used by Google and others to justify their restrictions on crypto ads, arguing that their algorithms can not distinguish between legitimate projects and fraud.
YouTube has recently been added as a defendant in a class action lawsuit against Bitcoin Connect, which is clear from publicly available documents filed with Southern District Court Florida. According to the lawsuit, Google's proprietary video platform failed to protect or warn users against the promotional content of detection affiliates, which reached more than 70,000 hours and 58 million views on YouTube.
"Many affiliate defendants had partnered with YouTube, according to which the Bitcolic Respondents had been harassing the world of fraud and harmful material. The document alleges that YouTube was negligent to warn those victims of harmful material For which YouTube compensated its creators and publishers. Another segment reads: "In short With the help of negligent failure to warn you of YouTube, Bitcognator responded by cheating thousands of investors by invoking capitalization on the enthusiasm of the general public for currencies and buying unregistered investors to unregistered securities and to participate in the pyramid / ponzi Schemes tricked by.