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
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Andrew Forrest, a prominent Australian mining billionaire, has recently withdrawn his lawsuit against the social media conglomerate Meta, previously known as Facebook.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

Jerome Powell Says Interest Rates Are on Hold or Headed Lower: Here’s What to Watch
FEATURED

Jerome Powell Says Interest Rates Are on Hold or Headed Lower: Here’s What to Watch

December 30, 2025
Trump Signals January Timeline for New Fed Chair Pick as Powell Tensions Resurface – Here Is What to Watch
FEATURED

Trump Signals January Timeline for New Fed Chair Pick as Powell Tensions Resurface – Here Is What to Watch

December 30, 2025
Fed Rate Cuts Failed to Lift Crypto in 2025 – Here Is What March 2026 Could Mean
CRYPTO

Fed Rate Cuts Failed to Lift Crypto in 2025 – Here Is What March 2026 Could Mean

December 25, 2025
January Fed Rate Cut Odds Hit All-Time Low of 13% on Polymarket – Here Is Why Crypto Bets Are Fading
FEATURED

January Fed Rate Cut Odds Hit All-Time Low of 13% on Polymarket – Here Is Why Crypto Bets Are Fading

December 23, 2025
Fed Moves Toward Limited “Payment Accounts” as Crypto Access Debate Reopens – Here Is What’s Changing
OPINION

Fed Moves Toward Limited “Payment Accounts” as Crypto Access Debate Reopens – Here Is What’s Changing

December 19, 2025
BlackRock CIO Rick Rieder Interviews for Fed Chair Role – Here Is Why Crypto Markets Are Watching
CRYPTO

BlackRock CIO Rick Rieder Interviews for Fed Chair Role – Here Is Why Crypto Markets Are Watching

December 19, 2025
Load More

Related News

Warren Buffett Steps Down as Buffett Indicator Hits Record High – Here Is Why Markets Are Nervous

Warren Buffett Steps Down as Buffett Indicator Hits Record High – Here Is Why Markets Are Nervous

December 31, 2025
Can Solana Really Flip Ethereum in 2026 – Here Is Why the Debate Is Heating Up

Can Solana Really Flip Ethereum in 2026 – Here Is Why the Debate Is Heating Up

December 31, 2025
Shiba Inu Risks Slipping Out of the Top 40 as Market Cap Shrinks – Here Is What Comes Next

Shiba Inu Risks Slipping Out of the Top 40 as Market Cap Shrinks – Here Is What Comes Next

December 31, 2025
Bitwise Pushes Deeper Into Altcoin ETFs for 2026 – Here Is What It Could Mean for Crypto Prices

Bitwise Pushes Deeper Into Altcoin ETFs for 2026 – Here Is What It Could Mean for Crypto Prices

December 31, 2025
Aptos Underperforms Market as APT Slips Despite Broader Strength – Here Is What the Charts Are Showing

Aptos Underperforms Market as APT Slips Despite Broader Strength – Here Is What the Charts Are Showing

December 31, 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.

© 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

© 2025 BlockNews