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Social media platform Twitter (TWTR) is the latest tech company to ban initial coin offering (ICO) ads on their platform. The company made the announcement to ban ICO ads from their platform in late March in an effort to protect the public from large investor losses and potential fraud.

Facebook (FB) was the first major company to announce a similar ban in January, followed by Google (GOOGL) and Twitter.

The news comes as regulators continue to crackdown on ICO scams that involve heavy investments and founders never meeting their ICO commitment. Centra Tech, a company that was heavily endorsed by celebrities and backed by Floyd Mayweather Jr., was the source of cryptocurrencies rising earlier in the week, as SEC investigators charged the company’s founders for misleading investors.

Centra Tech raised $32 million from investors and were endorsed by Mayweather. The company’s founders Sam Sharma and Robert Farkas were both arrested. The ICO promised that the token would give investors a new virtual currency exchange and would operate on the Visa and Mastercard networks.

The claims that the company received approval from Visa and Mastercard led to the arrests. The SEC has sent dozens of subpoenas to ICO projects in an effort to halt projects that are fraudulent.

News of the arrest and charges against Centra Tech helped cryptocurrencies rise before a sharp dip on Wednesday, April 4. The market is down overall, with Bitcoin falling 6% to $6,850 and all other major virtual currencies down over 7% in early-morning trade.

Twitter’s ban on ads will be rolled out over a 30-day period, with the company planning to ban cryptocurrency wallet services and cryptocurrency exchanges, too. Companies that are public companies listed on major stock markets will be allowed to continue purchasing ads on Twitter.

Google’s ban will take much longer to rollout and is expected to be fully enforced by June.

Ransomware, which recently hit the city of Detroit, caused the entire department to shut down. According to Ankin Law Office, officials had to pay the ransom in bitcoin. Reports like these are the same reason many ad companies are choosing to ban ICO and related ads on their platforms. Scammers have targeted ICOs due to the rise in cryptocurrency publicity and marketing.

Google has also decided to ban Chrome extensions from their platforms that run cryptocurrency mining scripts. The scripts are installed without the user’s consent and are designed to mine cryptocurrency on the user’s computer. Google will also ban extensions related to these stealth mining operations in June.

The ban comes as new reports from Satis Group suggest that as many as 81% of ICOs are scams. The report claims that just 1.6% of all ICOs are promising. China banned ICOs in September 2017 followed by South Korea. Countries are taking a much harder approach to ICOs which have a high-risk of fraud.

Several ICOs have also been the target of investigations for trading as unregistered securities. Russia has also announced a set of strict rules for ICOs, which have been presented by Russia’s Ministry of Communications.