- Cardano founder set to sue Twitter, YouTube.
- Charles Hoskinson claims he gets threats from scam victims after he has been cloned.
- Charles also declares readiness to leave Twitter and YouTube if he loses in court.
Cardano founder Charles Hoskinson has threatened to file a class-action lawsuit against social media platforms, Twitter and Youtube, owing to the spate of crypto scams on these platforms. The Cardano founder threatened he was ready to delete his accounts on social media platforms and investigate both platforms to see if they are benefiting from the scams perpetrated on their platforms.
The rate at which scammers run giveaway fraud schemes on Twitter and YouTube has skyrocketed, with Twitter and YouTube doing next to nothing to check these heinous activities or safeguard their users. Charles Hoskinson is one influential crypto figure who is being impersonated on these platforms to run scams. Yet, YouTube and Twitter do nothing to check imposters or safeguard his identity and other people in this category. Their lackluster behavior has infuriated the Cardano founder and prompted him to threaten a class-action lawsuit.
After cloning famous figures, hackers ask the followers/viewers to send any amount of a particular cryptocurrency to their address and promise to double it.This sounds foolish, but people fall for these scams and continue to pay the hackers hoping to get double in return.
Cardano’s Charles Hoskinson addressed the giveaway scams in a recent video by highlighting the dangers they present for victims and the impersonated company/individual. He revealed people who have been scammed get in touch with him and IOHK most times to seek claims and reimbursement. Sometimes, Charles said these victims resolve to threaten him or his family if he does not compensate them.
What the Cardano founder is suing for
He blames Twitter and Youtube for the proliferation of these scams. He said that IOHK would employ a former FBI agent or lawyer who would fight such scams involving Cardano and its native cryptocurrency – ADA.
Charles threatened to investigate Twitter and Youtube to see if they gain financially from this scam and said if he loses in court, he is ready to leave some social media platforms, including Jack Dorsey’s Twitter.