Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

ASIC Targets Over 600 crypto Scams in a Major Crackdown A significant crackdown has been carried out by Australia's financial watchdog, the Australian Securities and Investments Commission (ASIC), targeting the proliferating menace of cryptocurrency scams In an aggressive move to safeguard investors, the regulator reported a substantial takedown of over 600 fraudulent schemes in the last year This bold action underscores ASIC's commitment to battling the sophisticated web of deceit ensnaring investors within the digital currency space Unveiling the Scale of Internet Fraud In a recent disclosure, ASIC unveiled its accomplishments in combating online fraud, highlighting the shutdown of 5,530 fake investment sites, 1,065 phishing links, and 615 cryptocurrency scams since July 2023 Such figures reveal the alarming frequency and sophistication of tactics deployed by fraudsters, leveraging cutting-edge technology to create more convincing scams...

Australia Takes Stride Against crypto Scams Australia's ASIC has been actively cracking down on fraudulent investment schemes and crypto scams proliferating through fake trading platforms and social media The regulator has successfully shut down over 5,500 fraudulent investment sites, 1,000 phishing links, and 615 crypto scam websites since July 2023 These scams, often endorsed by false celebrity claims, have caused significant financial losses to unsuspecting investors Last year alone, fake investment trading platforms led to estimated losses of $1 3 billion...