Home LATEST NEWS HIGH TECH La Presse-branded Bitcoin scam promoted using Facebook ads

La Presse-branded Bitcoin scam promoted using Facebook ads

70
0

billion dollars in Bitcoin “,” text “:” The multinational Tesla decided to help people in need and started to set up its Bitcoin Bank project by investing 1.5 billion dollars in Bitcoin “}}”>The multinational Tesla decided to help people in need and started to set up its Bitcoin Bank project by investing $ 1.5 billion in Bitcoin, can we read in the fake article. However, no such project exists.

According to the fake article, Bitcoin Bank allows you to take advantage of [plusieurs] cryptocurrencies, even in a bear market.hours on24, even while you sleep “,” text “:” It uses artificial intelligence (AI) to automatically manage short and long term sales, saving you money 24 hours a day, even during your sleep “}}”>It uses artificial intelligence (AI) to automatically manage short and long term sales, so you can earn money around the clock, even while you sleep, he continues.

The director of media relations at the Autorité des marchés financiers (AMF), Sylvain Théberge, warns against tempting offers that guarantee returns. Anything that talks about assured profits, anything that talks about returns that appear far too good to be true, are immediately red flags., he said.

The user is invited to provide personal information to register for the cryptocurrency exchange using the fake article: first name, last name, email address and phone number. This leads to a platform where you have to make an initial deposit,$ “,” text “:” usually 320 $ “}}”>usually $ 320. The bogus article claims that a personal account manager then communicates with investors by telephone.

A reader who signed up before reporting this ad to Decryptors ended up on the blacklisted C4U Capital websiteHave (New window)Have AMF websites and companies carrying out potentially illegal high-risk activities in Quebec.

When a company finds itself on such a list, it means that we, as regulator, have very convincing reasons to believe that this company is fraudulent. Sometimes, it can be calls that we have received, so we can base this decision on very specific elements. Sometimes this is information that we have received from other regulators. These are problematic organizations that people shouldn’t do business with, says Sylvain Théberge.

Several Facebook ads promoting cryptocurrency scams.

Here are some of the scam ads featuring Elon Musk on Facebook.

Photo: Screenshot

Contacted by Decryptors, Press Said to be aware of this scam. We are aware of this use of our logo and [de notre] visual signature for fraudulent purposes. Our legal team is on the case to analyze and rectify the situation, reacted its vice-president communications and philanthropy, Florence Turpault-Desroches.

Scams promoted on Facebook

We have documented over 40 of these deceptive Facebook ads leading to a bogus website with the article on Thursday and Friday. Several of them were taken down before we even contacted the social network about them, but others were only taken down after they were reported.

We have also listed at least three other Facebook ads promoting almost identical bogus articles in French, however presented on a website that looks in every way to that of the British tabloid. The Daily Mirror.

A fake article from British media The Mirror which reports that Elon Musk has launched a new cryptocurrency platform.

Another example of the scam that runs on Facebook.

Photo: Screenshot

According to Facebook policies, advertisements should not promote products, services, schemes or offers associated with deceptive or dishonest practices, including to defraud or steal money or information from people. They can’t either promote exchanges of cryptocurrency or related products and services without prior written permission.

We don’t allow ads that mislead people by using images of public figures, told us Alex Kucharski, director of Canadian communications for Meta, Facebook’s parent company. We have devoted significant resources to the fight against this type of advertising by improving the automated systems that remove ads before people see them, and we are investing in new tools to make them more effective.

Meta also claimed that it is currently testing a new system for reporting deceptive or fraudulent advertisements in the United Kingdom, Australia and New Zealand, and that it will arrive in other countries soon. Additionally, the company encourages its users to report any advertising that violates its policies.

Meta did not respond to our specific questions about why some of the ads were allowed on the platform, even though they violated more than one rule.

Cryptocurrency scams, more and more frequent

Cryptocurrency is the bait of choice for scammers. According to a press release from the RCMPHave (New window)Have, the number of cryptocurrency fraud incidents increased 400% from 2017 to 2020. Canadians reportedly lost more than $ 70 million in cryptocurrency frauds in 2021, according to the Canadian Anti-Fraud Center.

A coin marked with the Bitcoin logo.

Incidents of cryptocurrency fraud increased 400% from 2017 to 2020.

Photo: Getty Images / Edward Smith

For two years, the pandemic has also created an environment conducive to everything related to independent investment, including cryptocurrencies, explains Sylvain Théberge.

: ” Why not give it a try? ” Because a friend told them about it or because they saw an advertisement “,” text “:” People are at home, people are confined. He developed a reflex of: ” Why not give it a try? ” Because a friend told them about it or because they saw an advertisement “}}”>People are at home, people are confined. He developed a reflex of: “ Why not give it a try? ” Because a friend told them about it or because they saw an advertisement., supports the director of media relations of the AMF.

In December, CBC reportedHave (New window)Have that Quebecer Harpreet Sahota had lost more than $ 102,000 by registering for a cryptocurrency exchange promoted on Facebook. After her initial investment of $ 300 quickly swelled, alleged representatives of the company behind the scam convinced her over the phone to deposit tens of thousands of dollars more into her account. Ms. Sahota still has not seen her money.

Decryptors.  Marie-Pier Élie, Jeff Yates, Nicholas De Rosa and Alexis De Lancer.
Previous articleJames Webb telescope fully deployed two weeks after lift-off
Next articleTigrayan rebels accuse Ethiopia of killing dozens of civilians