BitMart has lost a bid to stymie a U.S. federal probe into its business practices, including its response to the 2021 theft of $200 million of customer tokens from the digital currency exchange.
TINA.org warned celebrities endorsing NFTs without disclosing their connections and material gains from these projects that they are breaking FTC law.
Meta, formerly Facebook, reported its first ever revenue decline in Q2, while profits tumbled by more than one-third as its big bet on a proprietary metaverse continues to bleed money.
The U.S. Federal Trade Commission released a report detailing about 46,000 people with over a median of $2,600 individual loss—this is about 60x higher than in 2018.`
Scammers have defrauded over 46,000 people, with the median amount lost being $2,600, as bogus investment scams accounted for over half the losses, according to the U.S. Federal Trade Commission.
The U.S. federal agencies alleged that the popular social media platform violated the FTC Act by deceiving users about the use of data it collected.
U.S. Government Accountability Office said that since digital currency ATMs are not as strictly regulated, they can allow human traffickers to move funds discreetly and recommend tougher measures.
The digital asset industry has a specific problem which, despite hurting consumers and adoption, receives little attention: dishonest advertising.
Douglas Monahan allegedly used money from his iBackPack campaign on “personal purposes,” namely buying BTC, according to the Federal Trade Commission.