20% of Scam Site Takedowns Linked to Crypto Fraud – ASIC Intensifies Crackdown

The Australian Securities and Investments Commission (ASIC) has confirmed that cryptocurrency-related fraud accounted for 20% of its scam site removals over the past two years. Since July 2023, the regulator has dismantled over 14,000 investment scam and phishing websites, with about 3,015 directly linked to crypto fraud. This marks a significant increase in the crackdown on online financial crime targeting cryptocurrency investors.