Watch Out for Libra Scams Claiming You Can Buy the Cryptocurrency

Internet domains that spoof the official Facebook Libra website claim you can buy the cryptocurrency now when in reality it won’t launch until 2020.

Facebook’s Libra cryptocurrency isn’t slated to launch until next year, but that hasn’t stopped fraudsters from creating fake websites that claim to be selling it.

Links to the bogus websites have appeared on social media, including Facebook pages and Instagram accounts, according to The Washington Post. Many of the fake sites look professionally-built and use the official Facebook Libra logos to lend an air of credibility.

Although Facebook told the Post it’s been cracking down on the Libra-related scams, you can still find the fake websites online. One of them, buylibracoins.com, claims you can purchase Facebook’s cryptocurrency via depositing some Bitcoin. Another site, libra-ico.org, lets you buy Libra at a “25 percent bonus” discount once you input an Ethereum wallet address.

The scams are no surprise. For years now, fraudsters have been spoofing legitimate websites to steal Bitcoin and other cryptocurrencies from unsuspecting victims.

According to the cybersecurity firm Digital Shadows, hundreds of internet domains referencing Libra and Calibra, Facebook’s subsidiary in charge of the cryptocurrency, were registered last month. Although many of these domain registrations are not hosting any content, Digital Shadows found at least six domains that were trying to impersonate Facebook’s official Libra website.

“One website, libra-vps[.]com claims to have set up Debian-based Virtual Private Servers (VPS) with access to the Libra blockchain,” Digital Shadows said. “These are available to purchase starting at $200, and purportedly allow anyone to create a wallet, send/receive Libra, and even mint coins.”

People interested in Libra should be patient. Although Facebook plans on launching it in 2020, the company’s cryptocurrency plans are already facing resistance from US lawmakers and regulators across the globe on worries Libra will enable money laundering and upend the financial system. For legitimate information regarding the cryptocurrency, you can go to Facebook’s dedicated website.