Odaily Planet Daily News The Australian Securities and Investments Commission (ASIC) revealed on Sunday that it coordinated the removal of more than 600 crypto scams last year as part of a broader effort to combat online investment scams. ASIC said it had helped to eliminate 5,530 fake investment platform scams, 1,065 phishing scam hyperlinks, and 615 crypto investment scams. It is estimated that these scams were spread through fake news articles and deep fake videos of local public figures last year, causing a total loss of $1.3 billion. "ASIC reminds all consumers to be vigilant about social media hyperlinks that promote online trading and cryptocurrency investments," the regulator said in a statement. ASIC added that about 20 websites are shut down on average every day, and scammers continue to adapt and find new ways to lure victims. Although there was a surge in crypto-related scams around the Bitcoin halving event in April, data provided by ASIC shows that the number is declining month by month. (Decrypt)