A 190% increase in cryptocurrency scams saw Australian consumers lose $6.1 million Australian dollars ($4.3 million) in 2018, according to a report released by the country’s Competition and Consumer Commission on April 29.
The substantial rise from the AU$2.1 million ($1.48 million) lost in 2017 came despite an industry wide slump in cryptocurrency prices, with Australian authorities receiving 674 reports where crypto was used to pay scammers.
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