American TV star Kim Kardashian posted a paid ad for the Ethereum Max cryptocurrency token on Instagram a few months ago and the head of the UK Financial Conduct Authority (FCA) Charles Randall issued a warning about the risks of buying crypto-assets promoted by influencers on social media, saying that people, those who do not understand the risks, buy digital currencies for fear of missing out, Mirror reported.
As part of his recent speech at the Cambridge International Symposium on Economic Crime, Randall also noted that he cannot reliably announce that EthereumMax is a scam. However, this does not change the fact that among cybercriminals, buying ads from social media influencers is a common practice, which in many cases leads to the fact that criminals simply leave investors without money.
Some influencers are promoting coins that, as it turns out, simply do not exist, he added.
Charles Randall, in turn, has lashed out at search engines and social networks for approving the publication of advertising content that could lead to investors losing their savings. Only Google received praise, which, according to the head of the FCA, agreed to block ads, which was not approved by a company authorized by the UK Financial Conduct Authority.
Follow NEWS.am STYLE on Facebook, Twitter and Instagram
21:31, April 25
LVMH exports more designer goods than France wines20:20, April 25
Bearded men are more attractive: Mark Zuckerberg is proof!19:27, April 25
Asia's richest man’s son drives around in $1M Ferrari, accompanied by security convoy16:36, April 25
Gustav Klimt painting, thought lost for 100 years, sold at auction for €30M15:22, April 25
Jennifer Lopez shows off rare Hermès Birkin bag worth more than $400,00014:55, April 25
One of Eddie Murphy's upcoming movies at center of investigation due to problems on set14:36, April 25
Irina Shayk looking for new man12:41, April 25
Kim Kardashian admits to some rumors about her being true12:10, April 25
Kanye West thinking about creating adult platform, Yeezy Porn11:30, April 25
Joe Manganiello speaks about his great-grandmother, an Armenian Genocide survivor10:40, April 25
Christy Turlington’s nude photos used in order to ridicule, bully her son23:13, April 24
My great grandparents were victims of this terrible genocide: Kev Orkian