Libra Scams – Fake Facebook pages attempt to sell cryptocurrency before its launch in 2020

Fake videos, pages, and websites are trying to sell the Libra cryptocurrency over Facebook, in spite of the new money is still pending to be launched in 2020.

A few websites are being shared over the social media guarantee to offer “quick access” to the digital currency, tricking users into trading cash for Libra currency.

Different scammers are utilizing the interest comprising Facebook’s cryptocurrency and attempting to steal people’s private information.

Twenty-seven various organizations, including Visa, Mastercard, and PayPal, are jointly working on the Libra project. However, it is Facebook’s inclusion that has attracted the most amount of media attention.

Facebook is currently facing an investigation from officials and bank regulators around the world.

From the British senators to the US President, and various economic analysts have expressed their concern over the upcoming launch of Facebook’s new cryptocurrency.

Sherrod Brown, the US senator, stated: “Facebook have had many scandals that it doesn’t merit our guarantee. We’d be insane to give them a chance to try and experiment with people’s money.”

A few representatives cautioned regarding the new cryptocurrency, saying it would be a danger, the risk of fraud and scams will occur if it gets launched in 2020. However, none anticipated that such tricks would spread online before it even propelled.

The Washington Post first spotted the fake Facebook pages. After an investigation, they found dozens of fake pages, groups, and accounts on Facebook and Instagram. Vast numbers of the pages seem to be operating at present; many users have officially joined these pages on Facebook . In an announcement exclusively to ‘The Independent,’ a Facebook representative stated: “Facebook expels promotions and Pages that violates our policies when we become aware of them, and we are always attempting to improve protection from such scams.”

Cybersecurity officials caution that people should take care when purchasing digital money and have to be exceptionally careful about the ones that are not yet launched.

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