Scammers Are Already Buying Up ‘Libra’ Domain Names

Facebook Libra Cryptocurrency

A little over a week ago, Facebook finally confirmed one of the biggest rumours in the cryptocurrency world. After around 2 years worth of development, the company was preparing to launch its very own coin with the hopes of getting in on the mining/blockchain action.

Now, the coin itself still has a fairly long way to go yet as it looks to jump through all the necessary legal loopholes to become one of the more legitimately recognised currencies. Specifically, so that it can be easily traded and exchanged. In a report via Axios, however, scammers are reportedly already making moves to try and get in on the action!

Domain Names

In the report, it has been found that scammers and/or less than legitimate sources have been mass purchasing domain names. Specifically those that make any reference to Facebook, cryptocurrency or the ‘Libra’ coin. Their intention is to have their websites ready in place to try and scam you out of your money when (and it is a when) trading in the coin begins.

While many of them are just ‘placeholding’ purchases (with no active website), a number of sites are reportedly already active offering you the chance to invest in Libra.

What Do We Think?

The short version is, until you see a picture of Mark Zuckerberg either holding a Libra coin or cutting the ribbon on something, don’t invest in Libra! Any website offering it at the moment is about 99.9% certainly a scam just looking to take your money!

Facebook is aware of the domain name grabs. In a statement, they have said: “We’re aware of the issue and will work with the Libra Association to take appropriate action.”

What do you think? Do you think Libra could be successful for Facebook? Would you invest in it? – Let us know in the comments!