Australia’s competition watchdog has claimed 58% of crypto ads on Facebook are scams; Meta says the data is old and unreliable.
Facebook parent company Meta has denied claims that over half of crypto ads on Facebook are scams, arguing the data is outdated and it has since taken steps to address the issue.
As part of its 2022 lawsuit, the Australian Competition and Consumer Commission (ACCC) claimed in a recent filing to federal court that 58% of the crypto ads it reviewed on Facebook are scams.
In a statement to Cointelegraph, a Meta spokesperson said the data in the ACCC’s statement of claim relies on old information from 2018 and is from a “limited data set,” and other contact methods are still the top way people are scammed.
