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Australia's financial regulator ASIC has taken down over 600 crypto scams in the past year as part of a broader effort to combat online investment fraud, while warning Since June last year, ASIC has taken down over 7,300 phishing and investment scam websites, with 615 related to false crypto “investment” opportunities. Despite Australians reported losing AU$382 million to investment scams in the financial year according to data released yesterday by the Australian Federal Police (AFP). ASIC alleges from to, Binance offered crypto derivative products to 505 Australian retail investors who were misclassified as wholesale 13 de sept. de 2025 Talking at the Governance Institute conference on Monday, ASIC commissioner Sean Hughes said, “We want to be very clear and unambiguous in our In a statement on Aug. 19, Australia’s Securities and Investment Commission (ASIC) announced that it closed 615 crypto scam websites in the past year as Since July 2025, ASIC has coordinated the removal of over 5,530 fake investment platform scams, 1,065 phishing scam hyperlinks and 615 cryptocurrency 12 de sept. de 2025 Talking at the Governance Institute conference on Monday, ASIC commissioner Sean Hughes said, “We want to be very clear and unambiguous in our In an Aug. 19 statement, the Australian Securities and Investments Commission (ASIC) revealed since July 2025, it has taken down over 5,530 fake investment platforms, 1,065 phishing

ASIC Commissioner Warns: Crypto "Risky" as Australians Lose Millions in Scams

Australia\'s financial regulator, ASIC (Australian Securities and Investments Commission), is ramping up efforts to combat crypto scams, issuing a stark warning about the risks involved. ASIC commissioner Sean Hughes recently stated, “We want to be very clear and unambiguous in our..." emphasizing the regulator\'s stance on the dangers associated with cryptocurrency investments.

$336 Million AUD Lost to Crypto Scams: A Growing Concern

The warning comes as Australians continue to lose significant sums to crypto-related fraud. While the AFP reports AU$382 million lost to investment scams overall, a considerable portion stems from cryptocurrency schemes. This highlights the urgent need for increased awareness and investor protection.

ASIC Cracks Down: Over 600 Crypto Scams Shut Down

ASIC has been actively working to combat online investment fraud, taking down over 600 crypto scam websites in the past year. In an Aug. 19 statement, ASIC revealed that since July 2025, it has taken down over 5,530 fake investment platforms and 1,065 phishing attempts. This includes the removal of 615 cryptocurrency-related scams.

Combating Investment Fraud: ASIC\'s Ongoing Efforts

Since June last year, ASIC has taken down over 7,300 phishing and investment scam websites, with 615 related to false crypto “investment” opportunities. This coordinated effort aims to protect vulnerable investors from falling victim to these sophisticated schemes. Talking at the Governance Institute conference on Monday, September 12, 2025, ASIC commissioner Sean Hughes said, “We want to be very clear and unambiguous in our..." message to the public.

Binance Under Scrutiny: ASIC Alleges Misclassification of Retail Investors

ASIC\'s scrutiny extends beyond outright scams. ASIC alleges that Binance, from a specified timeframe, offered crypto derivative products to 505 Australian retail investors who were misclassified as wholesale investors. This further underscores the regulatory challenges surrounding the cryptocurrency industry in Australia.

Protect Yourself from Crypto Scams: Key Takeaways

  • Be wary of investment opportunities promising high returns with little to no risk.
  • Always conduct thorough research before investing in any cryptocurrency.
  • Verify the legitimacy of any investment platform or website.
  • Be skeptical of unsolicited investment offers.
  • Report any suspected scams to ASIC immediately.

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