By CCN.com: While 2018 was a tough year for cryptocurrency enthusiasts with the persistent bearish market conditions, it was a bumper period for scammers in Australia. According to the Australian Competition and Consumer Commission (ACCC), the use of cryptocurrencies in scams surged by 190 percent year-on-year. In 2018 the number of cases where scammers were paid in crypto reached 674. On the other hand, losses in 2018 totaled $6.1 million versus the $2.1 million that was reported in 2017. The use of crypto, and other out-of-the-mainstream methods, in fraud is necessitated by anti-scam measures used by financial institutions. This is
The post Australian Crypto Scams Jump 190% in 2018, Still a Fraction of $500 Million Fiat Bust appeared first on CCN
source https://www.ccn.com/crypto-scams-australia-surge-fraction-of-0-5b-in-fiat-scams
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