BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

Australian Billionaire Drops Lawsuit Against Meta Over Scam Ads

Matoy by Matoy
April 12, 2024
in BREAKING NEWS, POLITICS, SOCIAL
Reading Time: 2 mins read
1
SHARES
18
VIEWS
Share on XShare in TelegramShare on Reddit
  • Australian mining magnate Andrew Forrest discontinues legal action against Meta due to insufficient evidence.
  • Forrest had accused Meta of profiting from scam ads featuring his image, leading to public losses.
  • Despite the lawsuit’s dismissal, concerns over digital scams featuring high-profile images persist.

Andrew Forrest, a prominent Australian mining billionaire, has recently withdrawn his lawsuit against the social media conglomerate Meta, previously known as Facebook. The case, which was filed in the District Court of Western Australia, accused Meta of allowing fraudulent cryptocurrency advertisements that used Forrest’s image, supposedly leading to significant financial losses for the public.

Legal Challenges and Developments

Forrest, who chairs Fortescue Metals and is noted as Australia’s second-richest person, initiated criminal proceedings against Meta in early 2022. His accusations were severe, suggesting that Meta knowingly profited from these deceptive advertisements and neglected to adequately police their platform. Despite his efforts, including obtaining approval from the Australian attorney general to proceed with the charges, the prosecution concluded there was not enough evidence to continue.

According to The Guardian, Forrest had also pursued Meta with a civil lawsuit in California, arguing that Facebook’s advertising tools directly facilitated scammers in targeting individuals. However, this case too faced hurdles, with Meta successfully moving to dismiss the charges earlier this year.

Continued Concerns and Corporate Responses

The persistence of scam ads using Forrest’s likeness, including sophisticated deep-fake technologies, underscores the ongoing challenges faced in regulating online content. In response to these incidents, Forrest has been vocal in demanding more proactive measures from social media giants to protect users from such exploitative practices.

Despite the legal setback, Forrest’s case has highlighted broader issues concerning the responsibility of social media platforms in preventing the misuse of their services. Meta has reiterated its commitment to combating scams, stating that it does not tolerate fraudulent activities on its platforms and is dedicated to enhancing protections for its users.

The dismissal of this lawsuit does not mark the end of concerns over digital scams, particularly those that manipulate the images of public figures to deceive consumers. It remains a pressing issue for regulators and social media companies worldwide, as they grapple with the complexities of digital advertising and the protection of user interests.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: cryptoscam ads
TweetShareShare
Matoy

Matoy

If Matoy is not busy looking at the latest Web3 news, he's always in the kitchen cooking delicious meals for his family. He's also a competitive fighting game player and a car enthusiast

DON'T MISS THESE! HOT OFF THE PRESS

Bitcoin Rebounds Above $84K as Fed’s Williams Re-Opens the Door to a December Rate Cut β€” Here Is Why It Matters
BITCOIN

Bitcoin Rebounds Above $84K as Fed’s Williams Re-Opens the Door to a December Rate Cut β€” Here Is Why It Matters

November 21, 2025
Fed Rate Cut Odds Collapse Into December β€” Here Is Why Wall Street Now Expects No Move
OPINION

Fed Rate Cut Odds Collapse Into December β€” Here Is Why Wall Street Now Expects No Move

November 20, 2025
Here Is Why December Rate Cut Odds Just Collapsed After Missing Jobs Data
BITCOIN

Here Is Why December Rate Cut Odds Just Collapsed After Missing Jobs Data

November 20, 2025
U.S. Jobs Report Beats Expectations With 119K Added β€” Here Is How Markets Reacted
CRYPTO

U.S. Jobs Report Beats Expectations With 119K Added β€” Here Is How Markets Reacted

November 20, 2025
Trump Says He Wants Powell Gone β€œRight Now” β€” Here Is Why the Fed Drama Just Escalated Again
OPINION

Trump Says He Wants Powell Gone β€œRight Now” β€” Here Is Why the Fed Drama Just Escalated Again

November 19, 2025
Rate Cut Odds Plummet as U.S. Cancels October Jobs Report β€” Here Is Why Markets Are Reacting So Sharply
OPINION

Rate Cut Odds Plummet as U.S. Cancels October Jobs Report β€” Here Is Why Markets Are Reacting So Sharply

November 19, 2025
Load More

Related News

Grayscale Brings DOGE and XRP ETFs to NYSE β€” Here Is What Investors Should Expect

Grayscale Brings DOGE and XRP ETFs to NYSE β€” Here Is What Investors Should Expect

November 21, 2025
Shiba Inu Faces a Bleak Outlook as Long-Term Forecast Shows Little Recovery β€” Here Is When SHIB Might Bounce Back

Shiba Inu Faces a Bleak Outlook as Long-Term Forecast Shows Little Recovery β€” Here Is When SHIB Might Bounce Back

November 21, 2025
BitMine Immersion Faces $4 Billion Unrealized Loss on ETH Bet β€” Here Is Why Analysts Say Shareholders Could Be Trapped

BitMine Immersion Faces $4 Billion Unrealized Loss on ETH Bet β€” Here Is Why Analysts Say Shareholders Could Be Trapped

November 21, 2025
Michael Saylor Responds to MSCI Index Classification and Doubles Down on Bitcoin β€” Here Is Why It Matters

Michael Saylor Responds to MSCI Index Classification and Doubles Down on Bitcoin β€” Here Is Why It Matters

November 21, 2025
Bitcoin Extends Its Brutal Slump Into Deep Bear Territory β€” Here Is Why The Market Keeps Breaking Down

Bitcoin Extends Its Brutal Slump Into Deep Bear Territory β€” Here Is Why The Market Keeps Breaking Down

November 21, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

Β© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

Β© 2025 BlockNews