The group’s director said consumers are often promised “get rich quick” schemes that are “too good to be true” and risk leaving people high and dry.
An influential consumer group on Thursday savaged TikTok, Twitter, YouTube and Instagram over the proliferation of misleading crypto ads on social platforms in a
The European Consumer Organization, BEUC, filed a complaint with the European Commission and consumer authorities for “allowing misleading advertisements of crypto assets to multiply on their platforms.” Despite the well-documented risks and increasing hype around investing in crypto, the complaint said few consumers are fully aware of the risks they are taking and that advertisers and influencers promoting crypto products on the platforms are not clearly disclosing them.
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