More Than 1,200 Crypto-Related Scams Reported in Australia in 2017

[kreslik.news]

Cryptocurrency-related scams are increasing at an alarming rate all over the world. In 2017 alone, the Australian Competition and Consumer Commission’s (ACCC) Scamwatch service has received 1289 Bitcoin-related scam complaints, reported the ABC’s current affairs program 7:30.

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The data obtained from the ACCC shows that scammers stole $1,218,206 from victims. The report elaborated that the most common complaints were related to investment scheme scams, ransomware, and malware scams, and “other” buying and selling scams.

Australian corporate regulator, the Australian Securities and Investments Commission (ASIC), has issued a warning ... (read more)