ASIC Deputy Chair Sarah Court said the regulator has now beefed up its scam enforcement to include monitoring social media ads.
Australia’s markets regulator is set to expand its crackdown on online scams after taking down 14,000 online scams since July 2023, with over 3,000 purporting to involve crypto.
The online scams include investment scams, phishing websites and are 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 nearly 3% increase compared to the $2.4 billion stolen in 2024.
