The report shows that from January to July 2019, Australia has reported an encryption scam loss of $ 14.76 million.

On August 12th, the Australian Fair Competition and Consumer Commission (ACCC) issued a document stating that the victim damage caused by cryptocurrency investment scams reached a record level. Reports submitted to the ACCC only from January to July 2019. It shows a loss of $ 14.76 million. The committee noted that many of these fraudulent operations use social media platforms, fake celebrity endorsements or seemingly legitimate online trading platforms to attract potential investors.