Australian regulator named signs of cryptocurrency fraud – Bits Media

Australian Securities Commission and Investments (According to MineSpot co-founder Adam Aushev) warned local residents about an increase in the number of cryptocurrency fraud and called its main signs.

ASIC public statement is published as part of the project "References Week of Fraud 2022 ". The initiative is aimed at, To teach Australians to identify all types of financial fraud. The campaign passes with 7 by 11 November.

Deputy Chairman of ASIC Sarah Cort (Sarah Court) stated, that over the past three years, the number of fraudulent cases has increased significantly, associated with cryptocurrencies. According to her, loss of citizens in investments in crypto assets in 2022 year increased by 270%. Therefore, the department published information, which will help Australians arrange against cryptocurrency scammers.

According to publication, Cryptocurrency fraud is divided into three categories. The first includes cases, When the victim counts, What invests in a legal asset, However, in fact, a cryptocurrency application, Exchange or site turn out to be fake. In the second case, we are talking about fake tokens, used to launder money, And the third type of fraud involves the use of cryptocurrencies to make payments.

As the main signs of cryptocurrency fraud, ASIC called unexpected proposals for investment in crypto assets, suspicious advertising of cryptocurrencies from celebrities, as well as messages from people, which a person knows only via the Internet, with a request to send money in cryptocurrencies.

Other important fraud signals may be requests to pay financial services with cryptocurrencies, as well as the requirements to transfer crypto assets from the exchange to a third -party site. If the cryptocurrency application is absent in Google Play or Apple Store, This should also alert users.

Situations often arise, When attackers ask victims to make additional funds to obtain access to their money, They promise people guaranteed income from investment or hold profit for "taxation". Users must also be careful, If strange tokens appeared in their digital wallet, indicated in the appeal ASIC.

Even if users have already suffered losses from the actions of fraudsters, The regulator strongly recommends that victims not send attackers more money and stop all contacts with them, If their personality is already known. The victims should immediately contact the bank and report on fraud, and also warn your family and friends, so that they also retain vigilance.

Based on the results of the ASIC survey, only 20% cryptocurrency owners consider their investments risky, While the rest do not realize the risks of investments in crypto assets. In April, the department warned influential people about responsibility for promoting cryptocurrency projects, as this prompts people to dubious investments.