Thailand’s digital ministry said it plans to take legal action against Meta’s Facebook for alleged cryptocurrency scam ads on the platform unless the social media giant actively tackles the issue.
In a statement released Monday, the Ministry of Digital Economy and Society said that it plans to ask a local court to shut down Facebook in the country at the end of this month unless the company takes a more active approach to taking down advertisements allegedly related to scams — some involving crypto.
source
Crypto scams stand as the black sheep in the cryptocurrency realm, though as you and I are aware, scams have plagued humanity since time immemorial. It's just that certain swindlers have adapted their tactics to exploit some unsuspecting souls within the crypto sphere.
In my view, fiat money is a scam as well, yet it appears that Thailand is contemplating legal action against Facebook due to the existence of scams on their platform. While I do not endorse scams or scammers, I find this approach unproductive.
It's akin to banning all driving because a fraction of drivers choose to operate vehicles while intoxicated or under the influence. We should address matters on a case-by-case basis instead of following the herd mentality. When there's an issue within a community, solutions other than outright bans should be explored.
Such problems can be rectified without resorting to bans. On Hive, we've witnessed numerous phishing accounts attempting, and at times succeeding, in scamming users. However, none of these wrongdoers were banned from Hive. It's worth noting that banning isn't even an option on Hive, given the absence of a CEO for this blockchain.
I've personally encountered a scammer as well. My Metamask account was hacked, though fortunately, I didn't have any assets stored in it. If memory serves me right, @belemo underwent a distressing experience of being scammed or hacked about a year ago. This highlights that anyone can fall victim.
Blanket app bans due to the misconduct of some members isn't a stance I endorse. While I'm not a fan of Facebook, I strongly disagree with such an approach. Before concluding this post, allow me to share my hacking encounter.
A while back, when I was delving into STEPN, a move-to-earn application, I found myself on their official Telegram channel. Supposedly, I needed an access code from there. While awaiting the code and attempting various combinations to gain access, I received a private message from someone who purported to be an official from STEPN.
This individual seemed genuinely helpful, and before I realized it, I'd handed over my keys from my Metamask wallet. Fortunately, no assets were present in it, and I quickly recognized that I'd been hacked. Consequently, I uninstalled the wallet and have abstained from using it since. Even after years immersed in the realm of crypto, I still managed to blunder.
Perhaps learning comes best from direct experience, hitting the wall and discovering a way around, rather than attempting to break it with our heads. How about you? Have you ever been a victim of a scam or hack in the crypto world? Care to share your story?
Thanks for your attention,
Adrian
Posted Using LeoFinance Alpha
I've had more scams and attempted scams through fiat, by a long way.
I reckon the biggest scam I've had in crypto is being dumb and new to the field and buying ALGO falling for the BS claim it was decentralised, then watching the value fall to virtually nothing.
But on the up-side, I'm kind of proud that when I was new to crypto I was one of the few to get in, make money and get out again quick enough from an obvious Ponzi scheme. Then sit back and watch the over-greedy people crying 😁
Algo is not really scam :)
@tipu curate
Upvoted 👌 (Mana: 18/58) Liquid rewards.
Yes, years ago at OpenLedger. Portal of Bitshares.
Had some EOS there, the founder of OpenLedger left with all the funds.
Was it a lot of money or not "that painful"?
Not that painful, 160 Eos.
One thing that still baffles me is how happy some human are while they scam people of their hard earned money. It is a pure wickedness
The human species never ceases to amaze me.
Oh yeah man. I was hacked too and it hurt bigly back then. One of the worse days of my life
I remember. Glad you overcome it and you're fine now. How's UK?
It's been a nice experience so far but honestly, I haven't even started living. Life starts properly tomorrow
Somebody tried to scam me with a piece of Mythic Land that I was gonna sell for over $10,000. I saw that from far away and made fun of the scammer until I got bored about it. Besides this, some overhyped projects resulted in not having substance, but those weren't meant as scams, but rather overpriced projects.
Great. I fell like a falling leaf in that situation with STEPN I wrote about.
I have been lucky enough to not be scammed that I know of anyway. Then again I don't get too deep into the crypto world or deal in any high amounts to make me a worthwhile target.
Lucky you! Or better said "you careful one".
I do think it is every duty of a crypto platform to double check the advertising they are promoting and disagree with your view. If you are prepared to take the money check what you are promoting as your duty is to protect your clintele. Leofinance had a scam advertised a while back and wondered how is this acceptable as you would think it would have been checked and therefore safe making it far worse. It was one of the so called investing houses that were scamming investors out of their funds.
In this case Thailand could fine Facebook but instead it's jumping on banning it so easily.