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Australian Watchdog Warns of Spike in Crypto Scams During Coronavirus Pandemic

Published 06/24/2020, 06:03 AM
Updated 06/24/2020, 07:40 AM
Australian Watchdog Warns of Spike in Crypto Scams During Coronavirus Pandemic

The Australian Securities and Investment Commission (ASIC) has identified a sharp rise in investment scams during the coronavirus pandemic and has singled out crypto-related fraud as a particular concern.

Between March and May 2020, investment scams of all types have reportedly risen by 20% as compared to the same period in 2019, according to ASIC’s announcement on June 24.

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