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    1. coinfeeds-bot on

      tldr; Australia’s markets regulator, ASIC, has disrupted 14,000 online scams since July 2023, with 21% involving crypto. Common scams include fake AI trading bots, fraudulent websites, and AI-generated celebrity endorsements. ASIC is expanding its efforts to target social media ads. Investment scams have led to $73 million in losses this year, though overall losses are decreasing. Regulators are also cracking down on crypto ATMs linked to scams, with new rules and transaction limits introduced to combat fraud.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

    2. Natural_NoChemical on

      Important context: while 21% of scams involved crypto, that also means nearly 80% didn’t. Scams are a broader online problem, and crypto just happens to be one of the tools exploited, not the root cause.

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