Dear Google and YouTube Leadership,

We, the undersigned, are writing to express our grave concerns regarding the increasing prevalence of cryptocurrency scams being broadcast on YouTube through livestreams, video ads, and other channels on your platform. While cryptocurrency is an innovative and transformative technology with the potential to revolutionize industries, it is being severely undermined by malicious actors who exploit YouTube to target unsuspecting users.

Over recent months and years, numerous scams, including but not limited to fraudulent investment schemes, fake giveaways, and Ponzi schemes, have flooded YouTube, often appearing in highly visible and trusted spaces. These scams frequently utilize livestreams, paid advertisements, and even prominent influencers to deceive viewers into investing their hard-earned money in fraudulent projects. The results have been devastating: thousands of individuals have lost substantial amounts of money, and the reputation of cryptocurrency as a whole is suffering.

In addition to the scams appearing in livestreams and ads, the comment sections of legitimate, informative videos are also being bombarded by bots and fake accounts. These bots often impersonate trusted personalities and offer links to fraudulent websites, further misguiding and deceiving viewers. This disruption not only harms users financially but also dilutes the credibility of educational content that could otherwise help people make informed decisions about cryptocurrency.

Despite the clear harm being caused, these scam ads, livestreams, and bot-driven comments continue to operate unchecked, with many remaining active for extended periods before being removed. Furthermore, it is deeply troubling that Google is profiting from these fraudulent ads through its advertising platform. This situation has raised serious questions about the integrity and responsibility of the platform in safeguarding users from financial harm.

We understand that YouTube, as a platform, faces challenges in moderating vast amounts of content. However, the persistence of cryptocurrency scams, coupled with the apparent lack of sufficient action taken by Google to prevent them, has become an issue that cannot be ignored any longer. The cryptocurrency community, along with those who are genuinely interested in participating in this space, deserves a safe environment to learn, share, and invest in cryptocurrency without fear of being scammed or misled.

We respectfully request the following actions be taken immediately to address this issue:

1) Tighten the enforcement of YouTube’s content policies regarding cryptocurrency-related scams, ensuring that fraudulent ads, livestreams, and videos are swiftly identified and removed from the platform.
2) Implement better ad vetting systems to prevent scams from being promoted via YouTube ads. This includes stricter guidelines for advertisers in the cryptocurrency space and the banning of misleading or deceptive cryptocurrency-related ads.
3) Improve comment moderation and detection systems to prevent bots and fake accounts from flooding comment sections with scam links and misleading information, especially on legitimate cryptocurrency content.
4) Provide better tools for the community to report and flag suspicious content related to scams and fraud, with a more transparent and responsive system for addressing these reports.
5) Collaborate with cryptocurrency industry leaders and experts to create an initiative that educates the public about common scams and how to avoid them, further establishing YouTube’s role in promoting safe and responsible cryptocurrency education.
6) Suspend monetization on fraudulent cryptocurrency content until stronger safeguards are in place, ensuring that scammers are not profiting from misleading and dangerous schemes.

We believe that YouTube, as a leader in digital content and video sharing, has a responsibility to its users and to the broader cryptocurrency community to act swiftly and decisively in removing scam content from its platform. The continued presence of such scams is eroding trust in both YouTube and the cryptocurrency industry itself, and it is imperative that Google, as the owner of YouTube, take a stronger stance against these harmful practices.

The community stands ready to support these efforts, and we urge you to take immediate action to protect the millions of people who rely on YouTube for information, education, and entertainment.

We appreciate your attention to this critical issue and look forward to seeing meaningful progress in addressing these challenges.