So we all know social media ads are those pop-up messages, videos, and images that promote stuff and pass info around, right? But there's more to it they also help bloggers make cash with every click, boosting their traffic.
This whole thing led to a lawsuit from Australian billionaire Andrew Forrest against Meta, claiming they used his identity to promote crypto ads. The court over there set a date for March 28, 2022, and reports say he lost about $952,000 AUD because of these misleading ads.
Plus, some well-known folks are stepping up to testify about the negative impact of these ads using celebrities to drive traffic for fake crypto schemes.
So, what do you all think about using our profiles or fame to push these scammy crypto ads? Is it enough to deserve a lawsuit?
ads not 100% filtered even by big companies like facebook or google even phising site can make ads on google you can see bunchof them
not to mention the Gambling and HYIP ads that directly shows as banner on couple website
It's already have a precedent, as far as I can remember, Steve Wozniak face was used by scammers, file a lawsuit but losses the case.
(https://www.coindesk.com/markets/2021/06/03/apple-co-founder-steve-wozniak-loses-case-against-youtube-involving-bitcoin-scam/)
Yes, it warrant a lawsuit but I don't think you can won the case.
Ads are rarely filtered with high accuracy, but unfortunately Facebook does not do a good job with removing scam crypto content compared to other content that violates the terms of use.
Try to report sexual or extremist content and you will find that it may be removed much faster than scam cryptocurrency content.
Identity theft is a bigger problem than this, and the affected party has the right to file a lawsuit against the platform if you do not remove the advertisement after the user proves his identity.
Things will not move beyond their impact on users in Australia and therefore you may find that personal data is important in countries, Facebook will investing more resources to protect individuals from those countries, and less important in other countries.
You as a user can do nothing because you will need a lot of resources to follow these scammers, hire a lawyer and then wait until they are caught and compensated appropriately.
Also, these scammers focus on celebrities because people believe the things they do (adding the word Elon Musk to your project may add value to it)
Such lawsuits will force these companies to devote more resources to tracking these scammers or make fraud more difficult for them.