Beware: Libra Frauds and Scams Are Already Here

It was only natural that the announcement of Facebook’s cryptocurrency project, Libra, will pin all eyes to it. Regulators are no longer able to turn a blind eye to the field. However, not all of the attention is positive, as alarmingly well-made scam websites are already starting to pop up.

Libra Knock-Offs Are Already Here

The world’s largest social media website, Facebook, recently made an official announcement that it’s going to be launching its cryptocurrency project dubbed Libra. 

What followed was a wave of euphoria throughout the entire industry and beyond. Regulators began to question whether Libra will fit within the existing legislative financial framework and whether a new one should be in the making. Some of them were even definitive enough to say that a project like this shouldn’t even see the green light at all. The UK, on the other hand, said that it would do its best to regulate it properly instead of trying to stop it. 

In any case, the project attracted the attention and cunning efforts of wrongdoers who are already trying to scam people out of their own money. 

What recently popped up is a website which looks alarmingly close to the original Calibra website which was released by Facebook. That’s how the knock-off looks:

Apparently, the website is trying to sell Libra coins to its users. The main issue with that, however, is that Libra coins are not even close to being released. Moreover, the website itself is full of typos and mistakes, making its credibility questionable, to say the least. 

The project, while in the making, hasn’t seen daylight yet and the cryptocurrency is nowhere near to being ready. 

In other words, if you see someone somewhere on the Internet trying to sell you Libra coins, pitching them as the cryptocurrency of Facebook, you can rest assured that it’s a scam. 

How To Protect Yourself? 

The official website of Facebook’s cryptocurrency is Calibra.com. Until further notice, if such even comes out, everything else which is not officially backed by Facebook or the Libra Association should be put under the scrutiny of heavy research. 

As with all things crypto, you should make sure that you only buy cryptocurrency from verified places. Make your own research. If one thing is clear is that the space has been subjected to many attacks which have made serious players particularly vigilant when it comes to their user protection. 

Only use trusted exchanges and verifiable websites when you decide to purchase cryptocurrency, regardless of whether it’s Bitcoin, Libra, or any other digital currency. 

The post Beware: Libra Frauds and Scams Are Already Here appeared first on CryptoPotato.

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