Advertising

Following Google's announcement of lifting the ban on Bitcoin and cryptocurrency ads on its website platform, the prices of major coins have skyrocketed dramatically. The total market cap has increased from $1.664 trillion to over $1.742 trillion, indicating a massive and bullish growth in the entire market of about 5%.

As the COVID-19 related lockdown forced people to stay at home, and the great many were left jobless, alternative means of earning money have been gaining more and more popularity. But are they legit?

While scammers take advantage of celebrities’ names without them knowing about this, some of the stars willingly take part in fraudulent projects. Thus, a famous US rapper known as T.I. agreed to pay a fine amounting to $75,000 for promoting a fraudulent ICO.

Related to the growing number of Bitcoin (BTC) and other cryptocurrency scams using fake advertising, it becomes obvious that the industry needs regulation. Advertising influences people's purchasing decisions, therefore, good social engineering can turn it into a great instrument for luring customers into various digital currency-related scams.

While many community members complain that YouTube is demonstrating hostility to cryptocurrency-related projects, scammers using the platform to trick people prove such measures are somewhat reasonable.

The UK Finance Conduct Authority researched the country’s cryptocurrency market to understand the citizen’s attitude towards digital assets. Curiously enough is that they do it right before the registration deadline set for companies dealing with cryptocurrency.

As of now, sharing content on the Internet is quite a problematic industry. Content creators often face stealth of their work, difficulty while copyright verification, onfair royalty distribution, etc. The reason for this is the centralized nature of most content sharing platforms.

On April 30, GoogleAds were exposed in sponsoring phishing ads for scam alternatives to crypto exchange CoinCorner. Meanwhile, the company itself failed to secure its spot with the search engine’s promoted ads. Therefore, this puts into question the entire attitude of big tech towards cryptocurrency.

It seems using the names of celebrities has become a trend among scammers. Another fraudulent investment platform Bitcoin Pro uses fake endorsements from CNN anchor Jake Tapper.