Fake BTC Ads On Facebook To Disappear After Dutch Court Rules It So

• Facebook must remove Bitcoin-related fraudulent investment ads after a Dutch billionaire and television producer John de Mol’s lawsuit was ruled by courts. 

• The Dutch court ruled that the social media giant must remove such BTC-related ads and provide all needed information.

• As to whether Facebook will actually release this information about the scammers is questionable.

Facebook must remove Bitcoin-related fraudulent investment ads after a Dutch billionaire and television producer John de Mol’s lawsuit was ruled by courts this week against the social network.

Legal Action

According to a Reuters report published on November 11th this week, the billionaire started judicial proceedings against Facebook in June this year, claiming that Facebook failed to respond to the numerous requests to remove ads of a scam that misused his and other images of celebs which in the end, resulted in a loss of $1.8 million by investors.

The Dutch court ruled that the social media giant must remove such BTC-related ads and provide all needed information, after de Mol made the claim, in regards to the individuals who were actually behind the scam ads. 

If they refuse to show such data, Facebook could be fined up to $1.2 million. 

The court said:

“Facebook’s arguments that it is just a neutral funnel for information, and therefore cannot be obligated to act, is not acceptable. The company plays too active a role with respect to advertisements, which form its primary business model, to argue that.”

As to whether Facebook will actually release this information about the scammers is questionable. Privacy concerns are big surrounding Facebook so if they release the data, controversy would most likely follow.

Facebook stated in the court that they had already deleted the ads that were being considered “all legal actions including an appeal.” 

A spokesperson for the network said:

“Importantly, this ruling does not change our commitment to fighting these types of ads. We cannot stress enough that these types of ads have absolutely no place on Facebook, and we remove them when we find them.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!