Australia scams are being targeted by the Australian Securities and Investments Commission (ASIC), which has intensified its enforcement campaign.
Since July 2023, ASIC scam enforcement led to 14,000 online scam takedowns, with more than 3,000 linked to crypto scams.
These scams include investment scams, phishing sites, and fraudulent ads. ASIC Deputy Chair Sarah Court said the regulator will now monitor social media advertisements as part of its crackdown.
“The takedown capability is one example of how we are monitoring the latest trends and acting to protect Australians from those who try to steal from them,”
Court stated.
Crypto Scams Increase in 2025
Crypto scams have become a larger share of total scams. In 2023, ASIC reported about 8% of its takedowns involved crypto scams. By 2025, that number increased to 21%.
ASIC’s scam enforcement operation averages 130 takedowns per week in 2025, down slightly from 140 in 2024. Despite the fall in weekly averages, crypto scams represent a growing portion of cases.
Globally, losses from crypto scams, hacks, and exploits totaled $2.47 billion in the first half of 2025. That marks a 3% increase from the $2.4 billion stolen in 2024.
Fake Trading Bots and AI-Based Crypto Scams
ASIC said some of the most common crypto scams involved fake trading bots that claimed to generate returns using artificial intelligence.
Other tactics included fraudulent websites impersonating legitimate companies and AI-generated news articles featuring false celebrity endorsements.
In 2024, ASIC warned that deepfakes and other AI-generated images were making scams harder to detect. These techniques remain a challenge in 2025 as scammers continue to adjust their methods.
Court said ASIC scam enforcement continues to respond to new technology used in crypto scams and other fraudulent activity.
Investment Scams Still Lead Reported Losses
Investment scams remain the biggest source of financial harm. According to the National Anti-Scam Centre, Australians lost $73 million to investment scams so far in 2025.
The figure shows a drop from $192 million in 2024 and $291 million in 2023. Despite the decline, investment scams remain the largest category of losses.
Authorities said coordinated efforts between ASIC and the National Anti-Scam Centre have reduced total losses, but scammers continue to adapt.
Crypto ATMs Under Scrutiny From Regulators
Crypto ATMs are also being linked to scams in Australia. The Australian Federal Police (AFP) and AUSTRAC, the financial intelligence agency, led a crackdown on their misuse in 2025.
Australia has the third-largest number of crypto ATMs worldwide. Their number increased from 1,871 in June 2025 to 1,968 in August, according to Coin ATM Radar.
Regulators suspect some machines are being used for crypto scams, including pig butchering schemes.
AUSTRAC introduced new rules and transaction limits for crypto ATMs in June 2025. In December, it flagged crypto oversight as a key priority for 2025.
Scam Reports Involving Crypto ATMs Exceed $2 Million
Between January 2024 and January 2025, 150 scam reports involving crypto ATMs were filed with Australia’s ReportCyber system.
The total losses from these scams exceeded $2 million, or $3.1 million in Australian dollars.
The AFP reported that both victims and offenders were connected to crypto ATMs in these scams. Authorities stressed that crypto ATMs are increasingly tied to online scams and money laundering.
The data highlights that Australia scams continue to involve crypto scams, investment scams, and misuse of crypto ATMs.
ASIC scam enforcement and wider agency cooperation remain central to tackling financial crime.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: August 4, 2025 • 🔄 Last updated: August 4, 2025
