Here's What Dogecoin Co-Founder Has To Say About Elon Musk Bitcoin Scam Streams On YouTube

Dogecoin (CRYPTO: DOGE) co-founder Jackson Palmer is now showing compassion to Tesla Inc (NASDAQ: TSLA) CEO Elon Musk. 

In a recent tweet, Palmer slammed video hosting platform YouTube for failing to take action against Livestream scams using Musk. Palmer could locate several scam streams using a simple name search. 

Genuinely baffled by this. If you go to YouTube, search "elon" and then under Filters select "Live", its endless crypto scam streams.@TeamYouTube this is simple stuff, why can so accurately copystrike small creators but you can't block these scammers streaming identical video? pic.twitter.com/YfInLZGCD0

— Jackson Palmer (@ummjackson) July 15, 2022

Palmer said that YouTube is not addressing the issue because doing so would cause it to lose advertising revenue. 

I'm hearing a theory from people that the reason @TeamYouTube do nothing is because stopping scam streams would cost them ad revenue... that's just really disheartening if the case.

— Jackson Palmer (@ummjackson) July 15, 2022

Also Read: Elon Musk Does It Again! Endorses Dogecoin, Says He'll Keep Buying The Meme Coin

Palmer identified these fake videos which were appearing in the sidebar suggestions. He finds it odd that Cathie Wood of Ark Invest has not yet gotten in touch with YouTube to address the rife bitcoin scams.

I'm also surprised that @CathieDWood and @ARKInvest haven't been able to convince @TeamYouTube to do anything about this. Their brand is also being used across all of these scams. Such a clear problem with a simple fix, but zero action.

— Jackson Palmer (@ummjackson) July 15, 2022

Palmer said it's unclear why YouTube isn't addressing this obvious problem. 

If this was niche or hidden away in a corner of YouTube, I'd perhaps care less - but this stuff is increasingly popping up in the recommendations sidebar.

This is spam management 101, @TeamYouTube should be able to fix this but for some reason won't. It's bizarre.

— Jackson Palmer (@ummjackson) July 15, 2022

Earlier in April, scammers tried to get away with a fake live stream on YouTube featuring Elon Musk and Twitter Inc (NYSE: TWTR) founder Jack Dorsey in discussion with Ark Invest's Cathie Wood. 

The YouTube video shared a link to a website that features a faux Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) giveaway.

Through rug pulls and other activities, scammers have swindled global cryptocurrency investors out of nearly $8 billion.

Photo: Created with images from Richard Patterson and  Steve Jurvetson on Flickr