Matcha Meta lost $16.8M in a SwapNet exploit. South Korean authorities also reported $48M in crypto phishing losses.

Social media giant Meta expected about 10 percent of its 2024 revenue, roughly $16 billion, to come from running ads for scams and banned goods, according to internal projections reported by Reuters.

Meta's ad machine is under fresh scrutiny after internal projections suggested that a double digit share of its 2024 revenue could be tied to scams and banned products, a slice of business worth tens ...

Bottom line: Meta insists that it is making steady progress against fraudulent advertising. "We aggressively fight fraud and scams because people on our platforms don't want this content, legitimate ...

Internal documents have revealed that Meta has projected it earns billions from ignoring scam ads that its platforms then targeted to users most likely to click on them. In a lengthy report, Reuters ...

Josh Hawley and Richard Blumenthal, two U.S. senators, have asked the FTC and SEC to probe Meta over an estimated $16 billion in scam ad revenue in 2024. A letter from the two to the agencies stated, ...

U.S. lawmakers have asked the Federal Trade Commission and the Securities and Exchange Commission to launch an investigation into Meta Platforms (META), Reuters reported on Monday, following a report ...