Australian banks claim 40% of scams 'touch' crypto as it defends restrictions
During a panel at the Australian Blockchain Week, executives from Australia’s major banks explained why they added restrictions on payments to local crypto exchanges.
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During a panel at the Australian Blockchain Week, executives from Australia’s major banks explained why they added restrictions on payments to local crypto exchanges.
The new measures from the Australian government come as cryptocurrency scams skyrocketed 162% to $221 million in 2022.
Australians lost $148.3 million (AUD$221.3 million) from investment scams where cryptocurrency was used as the payment method in 2022 — a 162.4% increase from 2021. According to an April 17 scam activity report from the country’s consumer regulator, the Australian Competition and Consumer Commission (ACCC), 3,910 crypto scam incident reports were made in total and [...]
The post Australian crypto scams increased by over 162% with nearly $150M lost appeared first on Crypto Breaking News.
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