Dogecoin Creator Calls Out Social Media Scam Ads
Billy Markus, known as "Shibetoshi Nakamoto" and the creator of Dogecoin, recently criticized social media advertising for its prevalence of scam ads.
Markus highlighted the persistent issue of fraudulent schemes targeting crypto users, which has plagued projects like Shiba Inu and Ripple.
Markus’s main concern is “malvertising” – deceptive ads embedding malware to steal data or hijack devices. These tactics erode user trust and lead to increased use of ad blockers, harming legitimate advertisers.
The crypto world remains vulnerable to scams, as shown by a recent heist where a Bitcoin whale lost over 1,000 BTC due to sophisticated fraud.
READ MORE: Finiko Crypto Ponzi Scheme Participant Sentenced to Three Years in Prison
Markus’s message urges a comprehensive approach to combat scam ads, including stricter ad vetting, ethical marketing, and better detection measures by social media platforms like X.
By educating users about scams and working together, the crypto community, advertisers, and social media platforms can create a safer online environment, fostering innovation without the constant threat of deceit.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
