When Facebook announced Libra Association it was met with enthusiasm and for many, it was believed to be a game-changer. However, then regulations around the world stepped in and the project is in hot water ever since. It recently came up with Libra 2.0 in some way as its new whitepaper has made a host of changes to please the regulators.
One thing has remained constant though even amongst all the metamorphosis is the huge number of scams involving Libra. According to reports, a call centre like approach is one of the most popular ways for the scammers to present their fake investment scheme involving Libra project and dupe customers.
Dante Disparte, Deputy Chairman and Head of Policy of Libra Association, has stated that the association is aware of the fake pages and scams running around and is working on them. He added that they're looking to identify these pages and shut them down and inform people that Libra has only one official site, caller Libra.org.
The Washington Post reported in July 2019 that how a plethora of fraudulent pages are running on Facebook itself and its partners. A twitter page with the username CoinLibraToken went as far as offering a fake initial coin offering (ICO) before it was shut down. The UPLibra Facebook page has a lot of likes and it promises to be a fast trading exchange platform for users across the globe. It also runs a twitter page and a YouTube video is there too which fools customers into believing they can buy Libra token for free.
The whole controversy and the tug of war with SEC are bad enough anyway for the libra association and the lawmakers already believe that it would be utilized in diabolical deeds. Seeing Scams run in its name already is the last thing the Libra Associations needs.
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