Regulatory authorities in Spain have opened a formal inquiry into a series of online advertisements linked to cryptocurrency products and other financial instruments that may breach legal standards. The investigation, reported by outlets within the Prensa Ibérica group, centers on claims that certain media channels, including a prominent publication formerly associated with advertising for such products, disseminated content that may contravene financial advertising regulations. The inquiry seeks to establish whether these ads misled investors or failed to meet the disclosure requirements mandated by market watchdogs. The situation underscores ongoing concerns about the dissemination of high-risk financial offers across social networks and media properties, and the potential harm to retail investors who encounter these messages in everyday browsing and social feeds (CNMV investigation report).
The head of Spain’s financial regulator, Rodrigo Buenaventura, highlighted during a recent industry forum that the agency has identified ads that were allegedly promoted by a so-called financial platform described as operating under a single marketing umbrella. According to the regulator, the campaigns appeared to use images of well-known actors without their permission and included manipulated media pages to give the messages greater credibility. The regulator stressed that the objective behind these campaigns was to persuade viewers to provide personal data or open investment accounts, potentially exposing them to substantial financial risk. This assessment points to a broader pattern in which fraudulent campaigns exploit reputational assets to induce trust and encourage rapid investment decisions (CNMV public remarks).
Buenaventura elaborated that the deceptive operation resembles a coordinated hacking-style scheme in which a fake website is used to harvest data and capital from unsuspecting investors. He warned that the perpetrators rely on the aura of fame to accelerate engagement and to misrepresent the legitimacy of their offers. The regulator reiterated that protecting the public from misleading advertisements remains a top priority, and that the investigation will assess the methods used to distribute the content, the accuracy of claims about returns, and the adequacy of disclosures provided to potential investors. Observers note this case as a reminder that legitimate financial promotions must withstand scrutiny for transparency, consent, and verifiability, especially when platforms reach wide audiences through digital channels (CNMV accountability statements).