Ads for bitcoin are still ending up on Facebook despite a crackdown on cryptocurrency advertising.
Facebook banned bitcoin and other cryptocurrencies in January in an effort to protect its users from “financial products and services frequently associated with misleading or deceptive promotional practices".
But crypto companies have found ways to get around the ad ban.
Tech founder Matthieu Suiche pointed out a Facebook ad last week that successfully broke through the rules by using "BITC0IN" in the shared text and article headline.
This is ridiculous. Ads are evading new Facebook rules against crypto currencies, and ICOs by misspelling them. "BlTC0lN" with L and Zeros. pic.twitter.com/Tt9a4r4sYP— Matt Suiche @ #OPCDE2020 (@msuiche) February 3, 2018
Another example, shared by BuzzFeed's Ryan Mac, used 'Block (Chain)' to get around the ban, spruiking its services alongside an image of Kevin Spacey.
1) Another crypto ad on Facebook, despite the ban— Ryan Mac 🙃 (@RMac18) February 8, 2018
2) Why do celebrities need to be on the blockchain?
3) Are you seriously using Kevin Spacey to promote your shit? pic.twitter.com/mgQKdXI78q
Facebook is attempting to clean up its platform following admissions its platform facilitated fake news and manipulated elections.
While the platform has been building its artificial intelligence capabilities, the social networking giant has so far found real people are more reliable.
It has since been hiring thousands of new employees around the world to address the problems.
AdNews asked Facebook if the above ads have been removed. Facebook is yet to respond.
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