Just as it is popularly know that social media "ads" are pop-up messages, videos, and images on display which facilitate adverts, promotion and a means of passing information, but it implication does not end there, it is also a means of generating revenue (income) for bloggers by every click on display to cause accumulated traffic.
This led to a lawsuit filed against meta by an Australia Billionaire Andrew Forrest, stating that meta promote the use of ads in advertising cryptocurrency using his Identity, the Western Australian Magistrates court set March 28th 2022 for the hearing of the case and that about $952,000 AUD was recorded lost as a result of the tricky intends of ads advantage.
"Facebook has shown little appetite to self-regulate or take basic steps to protect Australians from the misuse of its platform by crooks and scammers, so I’ve been left with no other option than to take this action.”
Also, some prominent citizens have deemed feet in testifying to the bogus effect of ads in using celebrities and noble individuals in generating traffic for fake cryptocurrency investments as stated below:
Celebrities such as Kate Winslet and Forrest Gump were erroneously cited as testifying the legitimacy of a counterfeit coin in 2019. Bogus mainstream news stories quoting celebrities were used to promote a fake crypto investment platform.
What is our take on ads using our profile credentials or status in promoting hoax cryptocurrency investments?
Does it warrant a lawsuit?