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.

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Last updated: 18/06/2020 12:00