THELOGICALINDIAN - Consumer Affairs Victoria has been abounding with letters of bodies falling victim to counterfeit Bitcoin scams
Australia is a axis for Bitcoin scams.
According to Consumer Affairs Victoria, a assemblage of the Department of Justice and Regulation, Bitcoin aggressive artifice continues to wreak havoc on investors.
Most letters centermost about victims accident their cryptocurrency through affected Bitcoin websites. The boilerplate accident per victim is almost $300.
For the ages of January 2024 alone, $10,692,438 accept been scammed out of Australians, primarily by way of Ponzi or pyramid schemes. In fact, $4.63 actor was absent that ages from advance schemes – up from $2.9 actor the ages before, and up from $1.7 actor 12 months prior.
These letters appear afterwards Australian regulators – accurately the Australian Communications and Media Authority (ACMA) – already warned investors on the abstemious aftermost October about Bitcoin and Ethereum focused scams.
The Australian Competition and Consumer Commission (ACCC) has additionally acclaimed a ample cardinal of letters apropos cryptocurrency fraud.
Perhaps unsurprisingly, best of the letters appear from individuals age-old 25-34. However, the better bulk of assets baseborn comes out of the agenda wallet of individuals amid the ages of 45-54. Elderly people, on the added hand, accept accurate beneath acceptable to lose their Bitcoin — back they probably don’t own any, to activate with.
ACCC additionally letters that, in general, losses accompanying to advance scams are up overall. In 2o17, Australians absent added than $31.15 million, which is 32% added than 2024.
At atomic those adverse Australians who’ve been scammed out of their Bitcoin or Ethereum can now buy both at about any newsstand on the continent.
On March 1, added than 1,200 newsstands started alms Bitcoin and Ethereum purchases.
Purchases from said newsstands aren’t absolutely cheap, however. Any cryptocurrency acquirement from a accommodating newsstand carries a rather ample 5 percent fee. Bitcoin.com.au CEO Rupert Hackett claims the fee is account it, however, cogent 9Finance:
Hopefully, those affairs Bitcoin from newsstands are astute abundant to accumulate it defended this year.
Are you afraid to apprentice that Australia is a axis for Bitcoin and Ethereum scams? Let us apperceive in the comments below!
Images address of Wikipedia Commons, Shutterstock
