Crypto Scams Prevalent on Facebook
#1: What's Happening?
Crypto scams are thriving on Facebook, posing significant risks to users.
#2: Causes of the Prevalence
- Weak advertising policies
- Unregulated crypto industry
- Sophisticated scam tactics
Facebook's lax advertising policies allow crypto advertisers to operate without proper vetting. The largely unregulated crypto industry also contributes to the prevalence of scams, with fraudsters exploiting loopholes in regulation.
Impact:
These scams have resulted in substantial financial losses for unsuspecting victims.
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