Facebook’s Libra currency spawns a wave of fakes, including on Facebook itself | Washington Post

Getting a bit deeply nested

"A number of fake Facebook and Instagram accounts were removed Monday after The Washington Post alerted Facebook to their spread.

The spread of fakes — and Facebook’s inability to detect them on its own — could undermine Facebook-backed efforts to inspire confidence and satisfy the regulators now scrutinizing the newly proposed global currency. Many of the fakes included Facebook’s logo, photos of Facebook chief Mark Zuckerberg or Libra’s official marketing imagery.

“There is a deep irony here in Facebook being used as the platform that could undermine trust in the currency Facebook is trying to build trust in,” said Eswar Prasad, an economics professor at Cornell University. “Facebook has an enormous worldwide network and enormous financial muscle . . . But the only way Libra will work well as a medium of exchange is if everyone can trust it. And that's the big question right now: whether there is going to be enough trust in Facebook.""

Facebook’s Libra currency spawns a wave of fakes, including on Facebook itself | Washington Post