The Central Bank of Poland (NBP) has collaborated with the country’s Financial Supervision Authority (KNF) to pay over 90,000 PLN for a defamation campaign against cryptocurrency investments.
Part of the resources went to a Polish Youtube content network that represents numerous well-known local content creators.
A video called “I LOST ALL MONEY?!” that depicts investments in cryptocurrencies in a negative light was first shown on December 8 on the Marcin Dubiel’s channel, a Polish youtube prankster who boasts of over 900,000 subscribers.
The film, which has already been seen more than half a million times on YouTube, is marked with the hashtag #uważajnakryptowaluty, which is linked with a website established by NBP and the KNF to say that “Virtual currency is not money” and similar warnings.
As the local reports stress, the video was not marked on Youtube as “including paid promotion” and there is also no reference in its description that it is part of a campaign that the NBP paid for.
The material paid for by NBP was also released on the Polish Planeta Faktów channel on Youtube. In addition, judging by the quality of the content, its distribution channels and its creators, the smear campaign appears intends to reach out to a more younger demographic
After one individual sent a question to the NBP about operations paid for by the central bank, the NBP remarked in a letter dated February 9 and acknowledged that it “carried out a campaign on the issue of virtual currencies in social media.”
As initially explained above, the campaign cost 91,200 PLN worth about $27,000 in taxpayers’ money. Aside from Google Ireland – which owns Youtube – and Facebook Ireland, its recipients were Gamellon, a Polish Youtube partner network keen on targeting gaming channels.
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