Truth Social faces scrutiny after its users fell for a variety of scams on its platform, resulting in losses of up to hundreds of thousands of dollars. For context, an estimated $10 billion was lost due to fraud last year, illustrating the very real threat scammers pose. We all want to stop consumers from being harmed - but Truth Social offers a teachable moment on why legislation such as Elizabeth Warren’s “Protecting Consumers from Payment Scams Act” is not the answer.
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