Facebook on Wednesday announced to ban ads related to coronavirus that promise to cure, prevent or spread panic among the users around COVID-19.

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The death toll in China`s novel coronavirus epidemic climbed to 2,715 with 52 new fatalities while the confirmed cases rose to 78,064.

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"We recently implemented a policy to prohibit ads that refer to the coronavirus and create a sense of urgency, like implying a limited supply, or guaranteeing a cure or prevention," the social networking giant told Business Insider.

"We also have policies for surfaces like Marketplace that prohibit similar behaviour."

Facebook earlier said it will remove misinformation about coronavirus from both its platform as well as photo-sharing service Instagram.

Coronavirus derailed Facebook`s Global Marketing Summit in San Francisco next month.

Facebook cancelled the event scheduled from March 9-12, to be attended by over 5,000 participants.

"Out of an abundance of caution, we cancelled our Global Marketing Summit due to evolving public health risks related to coronavirus," a spokesperson said.

"Facebook is committed to holding the event in San Francisco in the future," the company added.