Wednesday 27 January 2021

Facebook, John de Mol reach deal on fake crypto currency adverts

Bitcoin mining. Photo: Depositphotos.com

Television mogul John de Mol and Facebook have reached an ‘amicable settlement’ on stopping the appearance of adverts for bitcoin using De Mol’s face on the social media platform, the AD said on Tuesday.

Last year, a Dutch court ordered Facebook to tackle fraudulent advertising for bitcoin using De Mol and other Dutch celebrities without their permission to promote crypto currencies, but the company said at the time it was technically impossible and launched an appeal.

Now, according to the AD, Facebook’s technology is up to the job and the two sides have reached agreement on what to do if the adverts do appear again.

More than 150 Dutch nationals were persuaded by the adverts to buy bitcoins and other crypto currency, losing a total €1.7m in the process ahead of last year’s court cases.

Facebook has declined to comment on the deal and a spokesman for De Mol would only say the deal gives ‘sufficient certainty’ that misleading adverts will be tackled in the future, broadcaster NOS said.

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