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Facebook Removes 265 Israel-based Fake Accounts

The organisation had 65 Facebook accounts, 161 Pages, 23 Groups, 12 events and four Instagram accounts

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FILE - A 3D printed Facebook logo is seen in front of a displayed Russian flag in this photo illustration, Aug. 3, 2018. VOA

Facebook has said it has removed 265 Facebook and Instagram accounts, Facebook Pages, Groups and events that originated in Israel and were involved in coordinated inauthentic behaviour.

This activity originated in Israel and focused on Nigeria, Senegal, Togo, Angola, Niger and Tunisia along with some activity in Latin America and Southeast Asia.

“The people behind this network used fake accounts to run Pages, disseminate their content and artificially increase engagement,” Nathaniel Gleicher, Head of Cybersecurity Policy at Facebook said in a statement late Thursday.

“Page administrators and account owners frequently posted about political news, including topics like elections in various countries, candidate views and criticism of political opponents,” he added.

Facebook found the activity was linked to an Israeli commercial entity, Archimedes Group.

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FILE – A man poses for a photo in front of a computer showing Facebook ad preferences in San Francisco, California, March 26, 2018. VOA

“This organisation and all its subsidiaries are now banned from Facebook, and it has been issued a cease and desist letter,” said the company.

The organisation had 65 Facebook accounts, 161 Pages, 23 Groups, 12 events and four Instagram accounts.

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About 2.8 million accounts followed one or more of these Pages, about 5,500 accounts joined at least one of these Groups and around 920 people followed one or more of these Instagram accounts.

“Around $812,000 in spending for ads on Facebook paid for in Brazilian reals, Israeli shekel, and US dollars. The first ad ran in December 2012 and the most recent ad ran in April 2019,” said Facebook. (IANS)

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Facebook to Launch its Cryptocurrency Next Year: Report

According to Zuckerberg, Blockchain could give users more powers when granting data access to third-party apps

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A television photographer shoots the sign outside of Facebook headquarters in Menlo Park, Calif. VOA

Facebook, which owns WhatsApp and Instagram, is gearing up to launch its own cryptocurrency next year, the BBC reported on Friday.

Called “GlobalCoin,” the cryptocurrency would work with a new digital payments system in about a dozen countries starting in the first quarter of 2020.

Facebook has been in contact with US and British financial regulators to launch it.

According to the BBC, Facebook is in touch with “Bank of England governor Mark Carney and officials at the US Treasury”.

With over two billion users across its platforms, Facebook could emulate WeChat in China which allows its users to chat, shop and play games without leaving its platform.

The Facebook cryptocurrency would need to overcome numerous technical and regulatory hurdles before it can be launched.

According to media reports, the Facebook currency could be designed to be a “stablecoin” with a value pegged to US currency in an attempt to minimize volatility.

A report last week said Facebook has reportedly set up a company called Libra Networks in Switzerland that is developing payments and Blockchain systems for the social networking giant.

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Bitcoin is a cryptocurrency and worldwide payment system. Wikimedia Commons

According to a report in CNET quoting Swiss publication Handelszeitung, the Facebook cyrptocurrency would be tied to the US dollar and could, therefore, remain stable unlike Bitcoin which has crashed.

“Facebook set up Libra Networks in Geneva several weeks ago. Libra is the social network’s internal project name for the digital currency,” the report said.

The Swiss company would focus on developing the software and hardware for currency-related functions like payments, Blockchain, analytics, big data and identity management.

Facebook declined to comment on the new report.

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According to a report in The Wall Street Journal earlier this month, the social media giant is “recruiting dozens of financial firms and online merchants” towards its cryptocurrency-based system that would use a digital coin similar to Bitcoin.

The New York Times reported in February that Facebook had a team of 50 people working on its virtual currency project.

In a public interview with Harvard Law professor Jonathan Zittrain in February, Facebook CEO Mark Zuckerberg said he is “potentially interested” in putting the Facebook login on the Blockchain technology.

According to Zuckerberg, Blockchain could give users more powers when granting data access to third-party apps. (IANS)