Simon Callaghan said that efforts need to start on social media and telecommunication channels where most cryptocurrency scams originate.
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.
Australian crypto scams increased by over 162% with nearly $150M lost
While the total figures are “alarming,” crypto scams accounted for 7.1% of the total $2.08 billion stolen from Australians in 2022.
Australia bolsters crypto watchdogs in ”multi-stage’ plan to fight scams
The new measures from the Australian government come as cryptocurrency scams skyrocketed 162% to $221 million in 2022.