Social media giant has reported removed ads for a Bitcoin (BTC) scam that masqueraded as posts by the crown prince of Abu Dhabi.

The Bitcoin scam advertisement dubbed as Bitcoin Loophole claimed that Shiek Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces personally endorsed a scheme would make investors rich in just weeks with Bitcoin Trading.

However there were already thousands of investors and who already shared their personal information as well as money to the criminals running the scam before Facebook was able to take it down.

People who wanted to participate in the so called-investment scheme are asked to donate 1,000 UAR dirhams ($272) and this would enable the investors to earn $13,000 per day.

The narrative goes that the new investment program is an initiative from the crown prince to give back to the people but in reality just another scam that is being run by Ukrainian and Argentinean criminals.

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