Facebook has a massive presence in most of the developing economies. In some parts of the world, it is synonymous to the internet. Seeing this enormous presence, some envious money makers tried to draw the attention of Libra enthusiast with fake websites. Until now, Libra has not been launched officially by Facebook but has gained much of media attention. This may have made some envious investors to start fake websites over the last weekend. These nefarious websites are trying to cheat Libra fans with an imaginary presale of Libra. It has been found a website tried to be a complete mirror image of Facebooks Calibra.com. According to the statistics provided by Google and Reddit, a massive number of investors have already shown their interest towards the yet to be launched stablecoin. As per their study, people are keen to know how BTC can be exchanged for Libra. These fake websites are trying to lure the user with a presale of Libra. They are offering an attractive bonus on the trading of Libra. On the original webpage, Facebook has not yet disclosed anything about presale or bonus. Some of these fake websites are even offering to exchange two Ethereums for 600 Libra or twenty Ethereum for 800 hundred libra. Another site Zuckbucks.cash is offering to exchange ZBUX with Ethereum an ERC20 token which is absolute of no use. In the past Facebook has acquired those companies that were a potential threat for their development. The companies that were hard to convince for them they used to embrace, extinguish, and enhance techniques. Now it is interesting to see how Facebook deals with this situation, where several fake websites are trying to threaten the reputation of Libra. According to experts, the entry of the social media company into the digital currency arena will pose a risk to the world banking system. According to them, global policymakers should address the situation as fast as possible. As per the studies with the entry of big technology companies into the cross-border transaction will speed up the process and cut the substantial transaction cost. But it may weaken the banking system which has just improved from the 2008 should be breakdown. Libra News
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