US senators call on Meta to stop crypto scammers

						Array
(
    [conclusion] => Array
        (
            [0] => 
        )

    [post_sponsor_aff_link] => Array
        (
            [0] => 
        )

    [casino_url] => Array
        (
            [0] => 
        )

    [casino_street_address] => Array
        (
            [0] => 
        )

    [casino_post_code] => Array
        (
            [0] => 
        )

    [year_founded] => Array
        (
            [0] => 
        )

    [withdrawal_limit] => Array
        (
            [0] => 
        )

    [reviewrating] => Array
        (
            [0] => 
        )

    [bestrating] => Array
        (
            [0] => 
        )

    [cgn_score] => Array
        (
            [0] => 
        )

    [casino_key_feature_1] => Array
        (
            [0] => 
        )

    [casino_key_feature_2] => Array
        (
            [0] => 
        )

    [casino_key_feature_3] => Array
        (
            [0] => 
        )

    [bonus_text_top] => Array
        (
            [0] => 
        )

    [bonus_text_bottom] => Array
        (
            [0] => 
        )

    [casino_review_reference] => Array
        (
            [0] => 
        )

    [_wp_page_template] => Array
        (
            [0] => default
        )

    [_thumbnail_id] => Array
        (
            [0] => 16734
        )

    [ppma_authors_name] => Array
        (
            [0] => Alex
        )

)

Updated September 21, 2022 | Published September 13, 2022

2 mins read

Six democratic members of the Senate Banking Committee have written a letter insisting that Meta should do more to curtail the pernicious influence of crypto ads on social media platforms.

US senators are not at all convinced that Meta is taking the risk of cryptocurrency scams proliferating on its platforms seriously.

The Federal Trade Commission (FTC) said that 49% of complaints received between January 1, 2021 and March 31, 2022, were related to cryptocurrency scams on social medias. The scams had cost consumers a collective $417m during the period.

It’s possible that many consumers have not actually raised the issue with FTC, so the real numbers can be much higher.

The senators stated in their letter that Meta’s platforms were “popular hunting grounds” for scammers who are looking to target vulnerable investors who may be tempted to place their money into something that is designed to defraud them.

As a result, the senators insist that Meta should introduce stricter policies on how crypto scammers can be found and removed from the platform.

Meta has come under scrutiny from regulators, as the company was found to be dealing poorly with a range of issues, including scams, and even meddling in US politics.

Scams have become so ubiquitous that they have cost Australian consumers $252m since the beginning of the year.

Popular cryptocurrency influencer FatManTerra even set up a quick crypto scam to teach followers a lesson not to trust crypto investments too easily.

If you want to explore cryptocurrencies safely, we recommend turning to 1xBit, FortuneJack or Bitcasino.io.

Alex

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

View all posts

Roobet and Snoop Dogg present new game

Game studios await blockchain regulation

Sony Interactive Entertainment files NFT patent

Venezuela cracks down on crypto-linked oil companies

The Ledger: France toughens crypto stance, SEC goes after Coinbase

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Array ( [0] => WP_Term Object ( [term_id] => 4513 [name] => crypto [slug] => crypto [term_group] => 0 [term_taxonomy_id] => 4513 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1684 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 8306 [name] => Hong Kong Monetary Authority [slug] => hong-kong-monetary-authority [term_group] => 0 [term_taxonomy_id] => 8306 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [2] => WP_Term Object ( [term_id] => 7466 [name] => Hong Kong Securities and Futures Commission [slug] => hong-kong-securities-and-futures-commission [term_group] => 0 [term_taxonomy_id] => 7466 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 5 [filter] => raw ) [3] => WP_Term Object ( [term_id] => 1026 [name] => regulation [slug] => regulation [term_group] => 0 [term_taxonomy_id] => 1026 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 668 [filter] => raw ) )

Array ( [0] => WP_Term Object ( [term_id] => 181 [name] => Blockchain [slug] => blockchain [term_group] => 0 [term_taxonomy_id] => 181 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 890 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 4513 [name] => crypto [slug] => crypto [term_group] => 0 [term_taxonomy_id] => 4513 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1684 [filter] => raw ) [2] => WP_Term Object ( [term_id] => 8305 [name] => KDDI Corporation [slug] => kddi-corporation [term_group] => 0 [term_taxonomy_id] => 8305 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [3] => WP_Term Object ( [term_id] => 5226 [name] => metaverse [slug] => metaverse [term_group] => 0 [term_taxonomy_id] => 5226 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 85 [filter] => raw ) [4] => WP_Term Object ( [term_id] => 7346 [name] => Oasys [slug] => oasys [term_group] => 0 [term_taxonomy_id] => 7346 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 7 [filter] => raw ) [5] => WP_Term Object ( [term_id] => 8072 [name] => Softbank [slug] => softbank [term_group] => 0 [term_taxonomy_id] => 8072 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 2 [filter] => raw ) [6] => WP_Term Object ( [term_id] => 5754 [name] => Square Enix [slug] => square-enix [term_group] => 0 [term_taxonomy_id] => 5754 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 7 [filter] => raw ) )

Array ( [0] => WP_Term Object ( [term_id] => 2679 [name] => crypto casinos [slug] => crypto-casinos [term_group] => 0 [term_taxonomy_id] => 2679 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 17 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 8163 [name] => Matt Duea [slug] => matt-duea [term_group] => 0 [term_taxonomy_id] => 8163 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 2 [filter] => raw ) [2] => WP_Term Object ( [term_id] => 5246 [name] => NFT [slug] => nft [term_group] => 0 [term_taxonomy_id] => 5246 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 268 [filter] => raw ) [3] => WP_Term Object ( [term_id] => 1050 [name] => roobet [slug] => roobet [term_group] => 0 [term_taxonomy_id] => 1050 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 6 [filter] => raw ) [4] => WP_Term Object ( [term_id] => 5219 [name] => Snoop Dogg [slug] => snoop-dogg [term_group] => 0 [term_taxonomy_id] => 5219 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 6 [filter] => raw ) )

US senators call on Meta to stop crypto scammers

Best Casinos to play with…
Bitcoin

Bitcoin

Ethereum

Tether

Similar News

HK regulators court crypto execs ahead of launching digital...

Japanese telecoms firm joins Oasys

Roobet and Snoop Dogg present new game

Best Casinos to play with… Bitcoin Bitcoin Ethereum Tether

Similar News

HK regulators court crypto execs ahead of launching digital...

Japanese telecoms firm joins Oasys

Roobet and Snoop Dogg present new game

Best Casinos to play with…
Bitcoin

Bitcoin

Ethereum

Tether