And reporting to youtube isn't gonna do anything. There are loads of similar "hack" videos in the related tab, so even if yt removes this one (which I doubt), there are many which show the same hack. Also, you're forgetting things like warez and hack forums, usenet, IRC, other websites.
It's much more reasonable to ask shutterstock to fix this, then go after hundreds upon hundreds of websites and alternative channels. The only way to fix it is for shutterstock (and facebook) to fix it, youtube has nothing to do with this, and isn't a long term solution.