**Crypto Scams Cost Aussies $122 Million in a Year**
Australians have lost a staggering $122 million to crypto scams over the past year, with most victims being under 50, according to the Australian Federal Police (AFP). In total, $269 million was lost to investment scams, with 47% involving cryptocurrencies.
Key findings:
- Most scams are initiated via text or email.
- 60% of victims are under 50.
- Common scams include "pig butchering" and deepfakes.
AFP warns that many scams go unreported. Assistant Commissioner Richard Chin advises, âIf it sounds too good to be true, it probably is.â