The La Presse-branded bitcoin scam was promoted using Facebook ads

milliard de dollars dans Bitcoin”,”text”:”La multinationale Tesla a décidé d’aider les personnes dans le besoin et a commencé à mettre en place son projet Bitcoin Bank en investissant 1,5milliard de dollars dans Bitcoin”}}”>Multinational Tesla decided to help people in need and began setting 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. heures sur24, même pendant votre sommeil”,”text”:”Il utilise l’intelligence artificielle (IA) pour gérer automatiquement les ventes à court et à long terme, ce qui vous permet de gagner de l’argent 24heures sur24, même pendant votre sommeil”}}”>It uses artificial intelligence (AI) to automatically manage short-term and long-term sales, allowing you to make money around the clock, even when you’re asleep.he continued.

The director of media relations for the Autorité des marchés financiers (AMF), Sylvain Théberge, warns against tempting offers that guarantee a return. Anything about guaranteed profits, anything about returns that seem too good to be true are immediately red flags.he said.

The Internet user is asked to provide personal information to register for the cryptocurrency exchange in the same wrong article: name, surname, email address and phone number. This leads to a platform where you have to make an initial deposit, $”,”text”:”généralement de 320$”}}”>usually $ 320. The fake article says that a personal account manager then interact with investors by phone.

A reader who subscribed before reporting this ad to Decryptors went to the blacklisted website of C4U Capital (New window) of the AMF of Internet sites and companies conducting potentially high -risk illegal activities in Quebec.

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

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

Photo: Screenshot

Contacted Decryptors, The Press said to be aware of this scam. We know this use of our logo and [de notre] visual signature for deceptive purposes. Our legal team is on the case to analyze and correct the situationreacted to its vice president of communications and philanthropy, Florence Turpault-Desroches.

Scams promoted on Facebook

We listed over 40 such deceptive Facebook ads leading to a fake website containing the article on Thursday and Friday. Some of them were deleted before we even contacted the social network about them, but others were only deleted after being reported.

We also identified at least three other Facebook advertisements promoting nearly identical fake articles in French, however were shown on a website that looked exactly like the British tabloid. The Daily Mirror.

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

Another example of a scam running on Facebook.

Photo: Screenshot

According to Facebook’s policies, advertisements should not be promote products, services, schemes or offers related to fraudulent or dishonest practices, including cheating people or stealing money or information from them. They can’t either promote cryptocurrency exchanges or related products and services without prior written permission.

We don’t allow ads that mislead people by using pictures of public figures, Alex Kucharski, Canadian communications director for Meta, Facebook’s main company, told us. We provide significant resources in combating these types of ads by improving automated systems that remove ads before people see them, and investing in new tools to make them more effective. .

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

Meta did not answer our specific questions about why some of the ads are allowed on the platform, even if they violate more than one rule.

Cryptocurrency scams, more often

Cryptocurrency is major bait for scammer. According to an RCMP statement (New window)the number of cryptocurrency fraud incidents rose 400% from 2017 to 2020. Canadians lost more than $ 70 million in investment fraud in 2021, according to the Canadian Anti-Fraud Center.

A coin marked with the Bitcoin logo.

Cryptocurrency fraud incidents increased by 400% from 2017 to 2020.

Photo: Getty Images/Edward Smith

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

: ”Pourquoi ne pas essayer?” parce qu’un ami leur en a parlé ou parce qu’ils ont vu une publicité”,”text”:”Les gens sont à la maison, les gens sont confinés. Il s’est développé un réflexe de: ”Pourquoi ne pas essayer?” parce qu’un ami leur en a parlé ou parce qu’ils ont vu une publicité”}}”>People are at home, people are confined. They developed a reflex of: ” Why not try this? ” Because a friend told them about it or because they saw an advertisementsupports the director of media relations at AMF.

In December, the CBC reported (New window) that Quebecer Harpreet Sahota lost more than $ 102,000 by signing up for a cryptocurrency exchange promoted on Facebook. After his initial investment of $ 300 quickly sank, representatives of the scam company allegedly convinced him over the phone to deposit tens of thousands more dollars into his account. Ms. still does not see. Sahota his money.

With information from Jeff Yates

Decryptors.  Marie-Pier Elie, Jeff Yates, Nicholas De Rosa and Alexis De Lancer.

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