Scam alert: ASIC sees a rise in crypto scams
- An increased number of Australians have reported crypto-asset (or cryptocurrency) scams to ASIC.
- Most crypto ‘investment opportunities’ reported to ASIC appear to be outright scams.
- Offenders are difficult to catch and lost money can be difficult to recover, especially when offenders operate outside of Australia and all contact has been online.
- Australian investors may lose all of the money they invest in fake crypto-assets.