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Australian Regulator Finally Gets Off Their Lazy Behind to Do Something About the Entire Industry Being an Unmitigated Disaster

BitcoinCrypto NewsHack 2 Linda Williams August 22, 2024

An illustration of an angry koala in sunglasses standing on top of a pile of trash cans with broken chains around them. The background is filled with cartoonish flames engulfing the remains of several websites and social media logos, while ASIC's logo shines brightly above it all. A faint image of a cryptocurrency symbol can be seen amidst the chaos as if being chased away by the koala. In one hand, the koala holds a hammer used to break chains, and in the other, a megaphone that emits sound waves towards the flames.

A bunch of cryptocurrency scams got shut down in Australia. About time too! It’s not like we haven’t been saying this for years: crypto is a scam that preys on gullible idiots who want to get rich quick and criminals looking to launder money. And what do you know? A regulator actually did something about it.

Source: bitcoin.com

615 Crypto Scam Sites Dismantled by Australian Regulator
https://news.bitcoin.com/615-crypto-scam-sites-dismantled-by-australian-regulator
The Australian Securities and Investments Commission (ASIC) has shut down more than 7,300 phishing and investment scam websites, including 615 targeting cryptocurrency. The regulator noted that collaboration with other agencies and advanced detection techniques have enabled ASIC to swiftly take down scams, contributing to the $1.3 billion in financial losses reported by Australians in 2023. The Australian Securities and Investments Commission (ASIC) marked the first anniversary of its investment scam […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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