More than 1,2 thousand of crypto investors in Australia have suffered from fraudulent schemes

According to calculations released this month, digital currency fraud has affected more than 1,2 thousand investors last year.

Local media reported that, according to estimates provided by the Australian Commission on Competition and Consumer Protection, the department received 1289 complaints related to the proposals of the crypto currency in the previous year.

The Australian government took a wait-and-see attitude to observe the crypto-currency market before introducing its regulation.

Australian regulator warns about crypto-currencies

Despite the fact that the names of specific fraudulent enterprises were not published, one of the investors said that they suffered financial losses while working with the controversial local Igot crypto-exchanger.

According to the commissioner of the financial regulator John Price, digital currencies are quite speculative and may be accompanied by a high level of risk. He stressed that they can participate in fraudulent schemes, and warned against investing funds of investors who are not ready to lose significant amounts, reports The Cointelegraph.

Earlier, the Australian Gambling Commission released ban on online bidding, based on digital currency.

Author: Vasilisa Ming, Analyst Freedman Club Crypto News

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