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23 June 2021

Scammers in Australia Earned $20.5M in Crypto Payments Last Year - Decrypt

Scammers in Australia Earned $20.5M in Crypto Payments Last Year - Decrypt


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Bitcoin and other cryptocurrencies were the second most popular payment method for scammers targeting Australians last year. .

According to a reportreleased earlier this month by the Australian Competition and Consumer Commission (ACCC), Australians paid out a total of AU$26.5 million ($20.5 million) in Bitcoin and other cryptocurrencies to scammers in 2020. .

“Bitcoin and other payment methods are now common ways for scammers to receive money,” the report said, adding, “It is likely that we will see increased use of Bitcoin and other cryptocurrencies in the years to come.” 

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