Australian competition regulator takes Meta to court over fake crypto ads By Cointelegraph

© Reuters.

The Australian Competition and Consumer Commission (ACCC) is taking Meta Platforms, Inc. (formerly Facebook (NASDAQ:)) to the Federal Court, alleging that the firm and its Irish branch engaged in “false, misleading or deceptive conduct” by publishing scam celebrity crypto ads.

Some users have lost hundreds of thousands of dollars to the sophisticated and long-running scams tied to the ad.