Australia has long been one of the early adopters of cryptocurrencies into its midst. While not entirely crypto friendly, Australia has one of the widest selection of crypto markets in the world, while also having a high number of crypto ATMs and crypto friendly shops. There are even physical locations for cryptocurrency trading in different parts of the country, utilized by many over the past few years. So it is both surprising and very disconcerting to see the statistics regarding cryptocurrency scams in 2018, in Australia. According to a document released by the Australian government, the number of these scams rose by about 200% in the year 2018, which is a number worth thinking about. The reason for this remains unclear, while the initiatives that might be undertaken by the government remain to be determined. In the end, the scams have cost Australia an outrageous amount of money, with around $4 million of the $400 million in losses being attributed to cryptocurrency scams, as reported to the ACCC.

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Source: https://thebitcoinnews.com/number-of-crypto-scams-soars-in-australia/