ASIC Deputy Chair Sarah Court said the regulator has beefed up its scam enforcement to include monitoring social media ads.
Australia’s markets regulator is set to expand its campaign against online scams after taking down 14,000 of them since July 2023, with over 3,000 purporting to involve crypto.
They also include investment scams and phishing websites found in online advertisements. ASIC Deputy Chair Sarah Court said in a statement that ASIC’s investment scam enforcement efforts will now be expanded to include social media ads.
Worldwide losses from crypto hacks, scams and exploits hit $2.47 billion in the first half of 2025, representing a 3% increase over the $2.4 billion stolen in 2024.
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