Ripple CEO Brad Garlinghouse has announced the completion of a YouTube lawsuit over the fake XRP coin distribution videos.

In April 2020, Brad Garlinghouse filed a lawsuit against YouTube for posting a fake video with snippets of his interview. The attackers urged users to deposit from 2,000 to 500,000 XRP, so that in return they received an amount five times higher than these investments.

Garlinghouse accused the video hosting site of knowingly profiting from the scammers, given that their videos featured ads. According to the head of Ripple, YouTube was unable to enforce its own rules and did not take any measures against criminals posing as leaders of cryptocurrency firms and defaming their reputation.

On March 9, Garlinghouse tweeted the end of the YouTube trial. The companies decided to cooperate to detect counterfeit materials and suppress such actions of cybercriminals. The details of the Ripple-YouTube agreement have not been disclosed.

Garlinghouse noted that social media are still responsible for filtering published content themselves. Social platforms are already starting to recognize the need to take action against cryptocurrency scammers. Firms like XRP Forensics are helping to track stolen funds, Garlinghouse said. But media platforms must also be directly involved in the fight against fraud, otherwise the process will resemble a "whack-a-mole" game that can go on indefinitely.