A poster for cryptocurrency Floki Inu has been banned for trivialising investment in the market and for taking advantage of consumers’ lack of experience.
The poster, seen in November across the London Underground, featured an image of a cartoon dog wearing a Viking helmet and read: “Missed Doge. Get Floki.”
Smaller text at the bottom of the ad said: “Your investment may go down as well as up in value. Crypto currency is not regulated in the UK.”
The Advertising Standards Authority (ASA) challenged whether the ad was irresponsible because its use of an image of a cartoon dog wearing a Viking helmet and the claim “Missed Doge. Get Floki” exploited consumers’ fears of missing out and trivialised investment in cryptocurrency, and took advantage of consumers’ inexperience or credulity.
Floki Ltd, trading as Floki Inu, said the cartoon dog was its corporate logo and was based on Tesla and SpaceX chief executive Elon Musk’s dog Floki.
They said it was not unusual for cryptocurrencies to originate from humour and/or memes and it was unclear how this could trivialise…
