Libra scams are already proliferating on Facebook

Illustration by William Joel / The Verge

An investigation by The Washington Post has uncovered a dozen accounts, pages, and groups across Facebook and Instagram which misleadingly claim to be official hubs for Libra, Facebook’s proposed digital currency. In some cases these pages, which were only removed after WaPo reported them to Facebook, offered to sell Libra at a discount through third-party websites.

Given the proliferation of cryptocurrency scams seen in recent years, it’s not surprising that scammers have descended on Libra given its widespread attention. However, it’s far more surprising that Facebook doesn’t seem to have been prepared for the influx of tricksters on its own service, especially as it struggles to assure regulators that it’s equipped to handle a global…

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