Fraudsters Exploit Interest In Libra Digital Currency

San Francisco, (UrduPoint / Pakistan Point News - 23rd Jul, 2019 ) :Fraudsters are out to cash in on interest in Facebook-backed digital Currency Libra, hawking bogus buying opportunities at online venues including the social network itself.

Libra is to launch next year, overseen by an association based in Europe, but as with other hot topics it has been seized on by nefarious characters intent on tricking people with false accounts, pages, and information.

Fake Libra opportunities or offerings have popped up on Facebook's main social network and its image-centric online community Instagram, according to a report Monday in the Washington Post.

A number of Libra-themed deceptive accounts were removed from the Facebook platform after the California-based company was alerted by the Post, according to the publication.

Some of the fake accounts used the official Facebook logo and photos of chief executive Mark Zuckerberg.

"Facebook removes ads and Pages that violate our policies when we become aware of them, and we are constantly working to improve detection of scams on our platforms," the internet titan said in response to an AFP inquiry.

The Libra Association was reported to be working with Facebook to get deceptive pages about the currency deleted.

Criminals routinely seize on hot topics to try to dupe people online, from natural disasters and major tragedies to celebrity news.