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"Digital ad fraud on Google and Twitter" linked to the loss of almost USD 60 million in cryptocurrencies.

In recent years, the rise of cryptocurrencies has led to a significant increase in frauds and scams related to this field.

One of the most used methods by criminals is through fake ads on popular platforms such as Google and Twitter.

I will conduct a detailed analysis of these fraudulent practices, examining both the advantages and disadvantages they present, to reach a conclusion about their impact on the loss of almost USD 60 million in cryptocurrencies.

Detailed analysis:

• 1. Wide audience:

Both Google and Twitter have a large number of users, giving scammers a large potential audience for their fraudulent ads.

• 2. High visibility:

These platforms offer promotion and advertising options that allow these ads to be highly visible to users, thus increasing the likelihood that they will fall into the trap.

• 3. Ease of creation and publication:

It is relatively easy for scammers to create fake ads and post them on these platforms, allowing them to quickly reach large numbers of people.

• 4. Difficulty to track:

Due to the decentralized nature of cryptocurrencies, tracking and recovering stolen funds can be extremely complicated, giving scammers an additional advantage.

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• 1. Deception of users:

Fake ads mislead users by presenting false information or unrealistic promises, which can lead to loss of money and lack of trust in cryptocurrencies.

• 2. Damage to the reputation of the platforms:

The presence of these fraudulent ads negatively affects the reputation of Google and Twitter, as it is perceived as a lack of security and control in their advertising services.

• 3. Negative economic impact:

The loss of nearly $60 million in cryptocurrency due to these frauds has a significant economic impact on both the affected individuals and the broader cryptocurrency community.

False ads on Google and Twitter, linked to the loss of almost $60 million in cryptocurrency, represent a serious and worrying threat to security and trust in the world of cryptocurrencies.

Despite the advantages they provide to scammers in terms of reach and visibility, the resulting disadvantages, such as damage to the platforms' reputation and negative economic impact, far outweigh any potential benefits.

Stricter measures must be taken to combat these frauds, including greater surveillance and regulation of ads on these key platforms, as well as continued education for users on how to identify and avoid online scams.

Only in this way can the risk be mitigated and users protected from future significant financial losses.

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Publication number #4 Friday 24 month 12 year 2023 time 05:05 pm.