Australia has cracked down on 14,000 fraud cases! 21% involve fake Crypto Assets investments, with ATMs becoming new risk points.

Since July 2023, Australian market regulators have uncovered 14,000 cases of online scams, of which over 3,000 cases (approximately 21%) involve fake Crypto Assets investments. Although the overall investment scam losses are on a decline, the proportion of encryption scams is rising, extending into emerging risk areas such as Crypto Assets ATMs. Regulators are intensifying enforcement efforts and warning the public to remain highly vigilant against social media advertisements, AI-generated content, and celebrity endorsements.

Fraud cases have surged, with a high proportion of fake Crypto Assets investments

Sarah Court, Deputy Chair of the Australian Securities and Investments Commission (ASIC), stated that since launching the anti-fraud initiative, a large number of suspicious websites have been identified and removed, covering investment scams, phishing sites, and false advertisements.

2023: Crypto-related scams accounted for about 8%

2024–2025: The ratio rises to 21%, with an average of 130 suspicious websites deleted weekly.

Common techniques include:

1. Fake AI trading robots promise high returns.

2. Phishing websites that impersonate legitimate exchanges or wallets.

3. AI-generated fake news and celebrity endorsement advertisements

Investment fraud losses decline, but Crypto Assets fraud still poses a threat

(Source: National Anti-Scam Centre)

According to data from the Australian National Anti-Fraud Centre:

2023: Investment fraud losses of 291 million USD

2024: Down to 192 million USD

2025 to date: a loss of 73 million dollars

Although the total losses have decreased, the number and proportion of crypto fraud cases continue to rise, indicating that fraudsters are shifting their focus to the digital asset sector.

Crypto Assets ATM becomes a new type of fraud entry point

(Source: Coin ATM Radar)

Australia is the third largest Crypto Assets ATM market in the world, with 1,968 devices, and the number is still increasing.

Regulatory agencies have pointed out that some fraud groups use ATMs to launder money or transfer funds.

Between 2024 and 2025: ReportCyber received 150 reports of scams involving Crypto Assets ATMs, with losses exceeding 2 million dollars.

June 2025: AUSTRAC introduces new regulations, restricting transaction amounts and strengthening operator reviews.

Law enforcement agencies have launched nationwide actions to investigate fraud cases related to Crypto Assets ATMs, including "pig butchering" investment traps targeting vulnerable groups.

Regulatory Authority Warnings and Preventive Recommendations

ASIC emphasizes that skepticism should be maintained in the following situations:

1. Investment advice pushed through private messages on WhatsApp, Telegram, etc.

2. Celebrity endorsements or AI-generated high-yield promises

3. Unverified Crypto Assets trading platforms and wallets

Sarah Court stated: "Although the data shows that coordinated actions have been effective, fraudsters will continue to upgrade their methods, and the public must remain vigilant."

Conclusion

Australia's anti-fraud efforts have made progress in reducing investment scam losses, but the penetration and complexity of cryptocurrency-related scams are on the rise, especially with new methods utilizing AI technology and crypto ATMs. Investors should strengthen self-protection and conduct multiple verifications before any fund transfers. For more on crypto security and regulatory dynamics, please follow the official Gate platform.