Over Half of Crypto Ads on Meta Are Scams

Over Half of Crypto Ads on Meta Are Scams

According to preliminary research by Australia's competition watchdog, more than half of the crypto ads on Facebook are either scams or breach Meta’s policies. In 2022, the Australian Competition and Consumer Commission (ACCC) sued Meta, Facebook's parent company, alleging it had "aided and abetted" celebrity crypto scam ads. A court date for this case is still pending. In a recent federal court filing, the ACCC reported that over 58% of t...

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