The spread of online hate and disinformation can be considered one of the biggest global threats to democratic societies. Recently, research on counterspeech—forms of communication that respond to harmful speech, refuting and challenging its contents and mitigating its harms—has proliferated within scholarship and initiatives by social media platforms. In this article, I critically consider this “movement toward counterspeech” from an intersectional feminist perspective. I discuss both the legalistic origins of the counterspeech discourse and its new proliferation in the digital context. I tease out issues in both the philosophical debate on and in social media platforms’ endorsement of counterspeech. As I show, the privileging of counterspeech is grounded on several false assumptions and benefits the platforms through communicative capitalism. Further, I argue that the proliferation of counterspeech is problematic for its most vulnerable targets, not just in terms of hurtful or harmful messages online, but in terms of how this speech is implicated in unjust social norms and larger structures of oppression. In the conclusions, I encourage the inclusion of marginalized voices and activists in the discussion on counterspeech