Meta Sued by Australian Watchdog Over Scam Crypto Advertisements

Facebook owner Meta Platforms Inc. is being sued by Australia’s competition watchdog, which alleges the social-media giant misled users by publishing scam advertisements featuring unwitting local celebrities.

The ads promoted cryptocurrency investments and linked to fake media articles that endorsed the schemes, the Australian Competition & Consumer Commission said Friday. Facebook users probably believed the promotions were associated with the famous people in the ads, who included businessman Dick Smith and television presenter David Koch, even though they had never approved them, the watchdog said.

Meta, which also owns Instagram, “engaged in false, misleading or deceptive conduct,” the ACCC said. ...