YouTube is letting people being scammed
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It would be useful if you could explain specifically what the scam is and how it operates.
The contract's code is intentionally confusing, making it look like it finds new liquidity pools and makes profitable trades. Instead, it generates a hidden address belonging to the scammer. When users interact with the start or withdrawal functions, believing they are trading or withdrawing profits, the contract simply transfers all funds to the scammer's address.
In short, this fake bot claims to make money through DeFi trading but ends up sending users' funds to the scammer's wallet.
Something like this is simply people who are unscrupulous leveraging a communications platform that's position is it is open for people to post their own content. I for one don't want communications platforms, that bill themselves as open places to post content, to police people's speech as a matter of general course. There are exceptions but the general rule should be people should be allowed to communicate even if their communication is pyramid schemes, trying to sell you the Brooklyn bridge, get rich quick schemes, etc....
Some people need to learn the hard lesson and we need to stop bailing them out.
'Sorry, moderating this content is something we cannot manage' is not an acceptable response, they are a trillion dollar company with access to tools which can be run at scale. Scam prevention is a cost center, which is presumably why they don't care, and that attitude needs regulation (as they'll never change on their own).
> Some people need to learn the hard lesson and we need to stop bailing them out.
I think the same can be said for large tech companies.
If we had social consensus that crypto, or at least these sorts of crypto schemes, are a scam, sure. We don't. If YouTube is targeting teens with meth-making ads, that's a problem. This seems more ambiguous.
Per the description in https://news.ycombinator.com/item?id=41920331, "these sorts of crypto schemes" are nakedly fraudulent. We're not talking about a pump-and-dump being achieved by vague allusions. We're talking about too-good-to-be-true representations of arbitrage (i.e. essentially risk-free return resulting from a market inefficiency, which naturally disappears from any market as it's exploited) that are a cover for unauthorized transfer of funds caused by deceptive computer code. I'm pretty sure there's more than enough legal precedent to cover every aspect of that and make an open-and-shut case. (This is not legal advice, of course.)
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