The Ministry of Digital Economy and Society in Thailand has warned social media giant Facebook, which is owned by Meta, about the need to combat scams involving cryptocurrencies on its platform. The ministry also added that if scams involving cryptocurrencies are not effectively prevented, the possibility of blocking access to Facebook from the country is on the table.
The Ministry of Digital Economy and Society in Thailand has threatened to block access to Facebook, which is owned by Meta, on its platform due to fraudulent advertisements related to cryptocurrency scams. The ministry stated that if the social media giant does not actively address the issue, it plans to initiate legal action against Meta’s Facebook for alleged cryptocurrency fraud advertisements.
According to a statement from the Ministry of Digital Economy and Society, if the company does not take a more active approach to removing advertisements that are claimed to be related to cryptocurrency scams, it will request a court decision by the end of the month to block access to Facebook from the country.
Sources reached by Reuters stated that the ministry is currently gathering evidence to present to the court regarding the mistakes Facebook has made in managing the process. The sources reported that the Ministry of Digital Economy and Society in Thailand will use this evidence if necessary.
In the statement from the ministry, it was stated that the examined advertisements attract victims by promising high returns from things they define as investments, some of which focus on digital currency or cryptocurrency trading. The Ministry of Digital Economy and Society in Thailand also added that over 200,000 people have been affected by fraud on Facebook.
The ministry emphasized that scammers create fake profiles to trap people and gain their attention and trust, often placing pictures of celebrities as their profile pictures.