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Don’t Fall for Facebook Libra Scams Online

Photo for the Article - Don't Fall for Facebook Libra Scams Online

August 13, 2019 – Dozens of Facebook pages and groups seem to mislead the public claiming they are the official accounts of Libra, Facebook’s upcoming cryptocurrency.

An in-depth report from the Washington Post uncovered dozens of these “Libra” Pages, claiming users can buy this cryptocurrency at a discount now.

The problem is that Libra hasn’t even launched. Libra – Facebook’s ambitious financial inclusion project is facing opposition from governments around the world. In the US, the social network’s head of blockchain David Marcus has appeared before the US Senate and Congress to explain Libra in detail to lawmakers. Even some of the founding members of the Libra Association – the governing body of the Libra Project appear to distance themselves from the project, claiming that what they have with Facebook are still just non-binding agreements. Visa claims no founding member has officially joined Facebook Libra project yet.

Facebook even said during the hearings and in various reports that they will release Libra (and the Calibra Wallet) only once all regulatory concerns and requirements are addressed.

So while Facebook is beset by governments that refused to trust its reputation to launch a financial product and supposed founding members trying to distance themselves from the project, problems are also found on the side – where various websites, Facebook pages, and groups are selling Libra coins via “private sale”, “initial coin offerings”, and through 3rd part payment options.

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There are even Scam Libra ads on the social network and on Instagram and YouTube. The picture below is an example of a website selling fake Libra coins.

Photo for the Article - Don't Fall for Facebook Libra Scams Online

With that said, it important that the public realizes that THERE IS NO FACEBOOK LIBRA, or LIBRA COIN yet and refrain from joining groups and websites claiming to sell them. Below are the official websites of Libra and Calibra:

This article is first published on BitPinas: Don’t Fall for Facebook Libra Scams Online

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