Cryptocurrency "scams" generated more than 1,200 complaints to Australian consumers in 2017 , according to figures released this month.
Local ABC reports that the data it obtained from the Australian Competition and Consumer Commission (ACCC) reveal 1,289 complaints, some of which appear to relate to symbolic offers.
Australia has remained silent promises of international regulators to closely monitor symbolic sales of cryptocurrency and related activities
As Cointelegraph has reported several times Since the 2018 World Economic Forum in late January, the US Securities and Exchange Commission (SEC) has spearheaded a continuing review of financial products, subsequently repeated by entities including the European Union.
While ABC does not specify which specific operation According to the complaints, an investor reports losses that he suffered due to the controversial use of the Australian Igot exchange, which the responsibility has since been transferred to Bitlio since an insolvency scam in 2016.
" They are rather speculative The products and they can be very high risk " John Price, Commissioner for Financial Regulation of the Australian Securities and Investment Commission (ASIC), for his part declared the publication in more general comments
It is quite well documented that some of these products are scams, so do not invest unless you are willing to lose some or all of your money.
Scams even affect the most well-known names in cryptocurrency, Vitalik Buterin, co-founder of Ethereum, warned investors against a Twitter impersonator who claimed to offer money. Money for free on his behalf.
The fake gift even made headlines in Cryptocurrency. incorrectly reported as legitimate.
Cryptocurrency media is now, even if by ignorance / stupidity, accomplice to make twitter scams seem more legitimate.
Also, the ECF is * not * an EF initiative; it is an independent community organization with EF participants as advisers.
Shame, https://t.co/JE9wIWmITL. pic.twitter.com/aM4YpjJIP7
– Vitalik Buterin (@VitalikButerin) February 18, 2018