Crypto scam ads

The Australian Competition and Consumer Commission (ACCC) is taking Meta Platforms, Inc. (formerly Facebook) to the Federal Court, alleging that the firm and its Irish branch engaged in “false, misleading or deceptive conduct” by publishing scam celebrity crypto ads. Some users have lost hundreds of thousands of dollars to the sophisticated and long running scams tied to the ad. The spotlight on Meta has heated up in Australia since the start of February, with Cointelegraph previously reporting that the ACCC was investigating the firm over allegedly fraudulent crypto ads. Aussie mining billionaire Andrew Forrest also took legal action against the company for hosting ads that allegedly used his name to defraud victims. In an announcement posted earlier today, the ACCC asserted that Meta “ai...