Report: Australian investors lost $122 million to crypto scams in the past 12 months

According to a new report from the Australian Federal Police (AFP) on August 28, Australians have lost $122 million (A$180 million) to crypto scams in the past 12 months, with most victims under the age of 50.

In a statement on August 28, the AFP revealed that investment scams resulted in losses of US$269 million (A$382 million) last year, of which approximately 47% were related to cryptocurrencies.