Australia’s ACB Dismisses Rumors Of Crypto Tie-Up

Australian Commonwealth Bank warned of a fake news article circulating on Meta Platforms, Inc’s FB Facebook and other social media platforms. The article alleges that the multinational bank has partnered with a trading platform in order to encourage people to invest in cryptocurrencies like Bitcoin BTC/USDEthereum ETH/USD and Dogecoin DOGE/USD.

The country’s top lender further added that it has reported the scam to the relevant authorities and asked social media giants, including Facebook, to take down the article.

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CBA alleged that “the “article,” which purports to be a story on the Australian Broadcasting Corporation (ABC) news website, is a scam designed to entice unsuspecting people to go to the scammer’s website and provide their personal details and money.”

This came a month after the ​​Australian Competition & Consumer Commission (ACCC) alleged that Meta published advertisements featuring notable Australian public figures, which promoted cryptocurrency investments and schemes that were “scams.”


Also, in February, Australia’s richest person, Andrew Forrest, filed a criminal complaint against Meta, alleging its platforms were being used to scam Australians.

Price Action: According to the data from Benzinga Pro, the shares of Meta closed 0.28% higher on Nasdaq on Monday. Bitcoin was trading at $40,721, gaining 4.58% in the last 24 hours. Dogecoin and Shiba Inu were up 3.51% and 3.72%, respectively.

Photo: Courtesy of Bidgee via Wikimedia