Snapchat joins the ban on cryptocurrency ads

Snapchat changed policy on the crypto-related advertisements – now ICOs have to look for another ad-provider, general cryptocurrency ads are for now unaffecte
22 March 2018   381

Recently there has a been a surge of large online platforms banning cryptocurrency and/or ICO advertisements. At first it was Facebook, after that – Google's AdWords platform and now Snapchat joins their ranks.

According to reports, the Snapchat's parent compnay Snap Inc. has benn working on changing its policy since February 2018. The restriction imposed won't affect all the cryptocurrency-related ads, but token sales advertisements are outright banned from now on.

CoinDesk asked the Snapchat representative for further clarification and they confirmed the rumors:

The move makes Snapchat the latest social media platform to ban ads for cryptocurrency ICOs, an increasingly popular form of raising money by issuing virtual tokens instead of more traditional company shares.

The decision to ban only the ICO-related ads seems quite tame in comparison to Facebook and Google's policy on the matter. As usual, the rumors go on to state, that current ban was fueled, again, by US SEC repeated warnings about protecting users from scammers, raising money for non-existent start-ups. While the representative failed to either confirm or deny such claims, it seem quite possible that it was the case.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.