The Microsoft owned search engine, Bing, has recently published a report which reveals that the site has removed about 5 million cryptocurrency-related adverts from its platform in 2018.
Tye report titled “Ad Quality of the Year” for 2018, states that almost 200,000 accounts were removed from the platform because of a series of malware attacks, frauds, and phishing activities.
A sum of 900 million ads we’re designated as bad ads and out of those, 300,000 sites were taken off its system. Most platforms have been adopting a more strict policy towards the ads that are displayed on their site.
Out of all the ads cleaned up by Bing, over 5 million ads were based on virtual currency. The company, explained the reasons behind the ban by saying:
“There wasn’t much regulatory oversight, and the overall pseudo-anonymity built into currencies like bitcoin made cryptocurrency a prime target for fraudsters and scam artists to defraud end-users.”
5 million although sounds like a large number, it just makes up for for one percent of the total number of ads on Bing. This is just another example of how cryptocurrency related adverts are far from being authentic on most platforms.
Bing is not the only platform however, that has decided to pull the plug on crypto adverts of late. Giants such as Facebook and Google too has decided to remove cryto related promotional ads on their platform.
Google has been compelled to ban such ads on its platform. A directive from FBI instructed the platform to pull down misleading crypto ads that was getting investors to invest in malicious projects. Google however went one step further and banned all kinds of misleading adverts from their site, which fall under a wide business spectrum.