Recently, the Australian Competition and Consumer Commission (ACCC) claimed in a recent filing with the Federal Court that 58% of the crypto ads it reviews on Facebook are scams. In response, Meta, Facebook's parent company, rejected its view that "more than half of crypto ads on Facebook are scams", saying the data was outdated and steps had been taken to address the issue. A Meta spokesperson argued that "the ACCC data is unlikely to accurately reflect the current state of our platform".