Warning: Cryptocurrency Scams are Real!

[RealityKing]

Facebook announced in a blog post Tuesday that it was banning cryptocurrency advertising from the platform entirely. The company said that many ads for cryptocurrency investment opportunities, like initial coin offerings, were “not currently operating in good faith.” Facebook has a point. Take Prodeum for example, a Lithuanian cryptocurrency startup that appeared online Thursday. By Monday, it was gone.

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The cryptocurrency market is ripe for scammers because it’s relatively new, backed by tons of hype, and involves complicated technology. It’s easier to dupe someone into investing in your ICO in 2018 than your fake real estate business—and plenty of people have. A cryptocurrency startup only needs a swanky website and an official-looking white paper. There are also plenty of services to help streamline the process: You can automate your token sale, or have someone write fake news articles hyping up your venture.

Here is the full story:

https://www.theguardian.com/technology/ ... cies-scams

https://www.wired.com/story/cryptocurre ... -trolling/