Australia's ASIC Removes 3,106 Cryptocurrency Scams, AI Forgery as a Major Tool
Prefer us on GoogleThe Australian Securities and Investments Commission (ASIC) has revealed that in the 2026 fiscal year, it removed over 19,400 online scams, marking an increase of 182% year-on-year. Among these, cryptocurrency investment scam platforms reached 3,106, representing an approximate 30% increase from the previous fiscal year. ASIC pointed out that scam groups are extensively utilizing generative AI technology to construct a systematic fraud ecosystem. They create deepfake videos of well-known individuals to promote fake cryptocurrency trading bots, set up imitation media websites, generate AI comments, and fabricate false profit dashboards to lure victims into increasing their investments, with funds ultimately flowing to overseas criminal organizations. Just from the impersonation of high-profile individuals alone, the related losses have exceeded 7.4 million AUD.
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