The largest videoportal YouTube was plugged in the list of defendants on a class action against the cryptocurrency pyramid of BitConnect, Cointelegraph reports.
Case was filed on January, 24 on behalf of six physical persons interests that are presented by a legal company Silver Miller. Plaintiffs accuse BitConnect producing crypto tokens, that are “unregistered securities”, and also bringing in additional funds by means of the different charts.
The general damage plaintiffs made $771 thousands. In addition, BitConnect accuse of the use facilities new investors on debt liquidation before old.
In respect involvement of YouTube, then, on information edition, a financial pyramid used the great number advertisement videos on service. These videos fall short to politics of the service, because entice potential depositors in a knavish investment chart. In addition, YouTube did not delete and not demonetized the published videos.
It is reported that ten of the most popular partners of BitConnect on YouTube was published by the more than 70 thousand click of video, and the amount viewing attained 58 million. Here some users published video with statements about “benches” BitConnect.
“This business not that YouTube is the author content on a website. We talk about that, how service reacted since it turned out that BitConnect is a pyramid. He was not able to prevent a causing damage to the users”, – a representative Silver Miller declared.
Plaintiffs are sure that if YouTube conducted a search on the base these videos, then would be able to delete entering in an error videos of BitConnect. Instead service continued to publish them, that was outpoured in the greater amount victims swindle.
In addition, in a lawsuit affected and Google, that changed financial politics on prohibition advertisement any cryptocurrency products and concomitant content. Politics affects all services corporation, including and YouTube.
“YouTube was not able to protect users, could not alert them to harm. He had to do it by means of the advertisement protocols and own algorithms”, – registers in a document.
We will remind that as early as January of this year regulators compelled BitConnect to close a crypto exchange and program of crediting.