Here’s how Australia has taken down 14,000 scam websites in the last two years, with crypto scams making up 21%.
Australia is ramping up its battle against online fraud, with crypto now discovered to have played a major role.
Particularly, since July 2023, the Australian Securities and Investments Commission (ASIC) has taken down more than 14,000 scam websites. Out of these, about 3,000 were directly tied to crypto scams and represented 21% of the total.
Australia’s Expanding Anti-Scam Operations
Deputy Chair Sarah Court confirmed that ASIC is expanding its enforcement approach. More than takedowns in the traditional financial sense, the regulator is targeting scam advertisements on social media platforms, which have become one of the biggest channels for fraudsters.
“The takedown capability is one example of how we are monitoring the latest trends and acting to protect Australians,” the Court said.
🇦🇺 Australia’s ASIC widens scam crackdown:
– 14,000+ sites taken down since 2023, 3,000 crypto-related.
– Now targeting fake ads on social media.
– $73M lost this year, but losses trending down.More: https://t.co/K3ekYWCC9M pic.twitter.com/2PKdpwRrkJ
— Fintegra News (@fintegra_news) August 22, 2025
ASIC launched its scam disruption program in July 2023, worked fast to identify and remove suspicious websites. The agency also worked with third-party cybersecurity firms to investigate these scam domains.
Initially, crypto-related scams made up only 8% of removals within the year. However, as of writing, that figure has climbed to more than one in five. In particular, the regulator currently removes an average of 130 sites per week.
Tactics Used in Crypto Scams
ASIC has identified several trends in online scams, and many involve fake claims of AI-powered trading bots that provide “guaranteed profits”. Others feature convincing websites that impersonate legitimate firms, or fake news articles with AI-generated celebrity endorsements.
Deepfakes and AI-generated images have made these scams harder to spot. Fraudsters also use “cloaking” tactics to hide scam websites from detection tools.
“If we just look at the first half of this year, we’re on track to lose about 3.6–4% of the entire sector’s assets to hacks,” Mitchell Amador, CEO of Immunefi, said.
Australia’s financial markets regulator says it has taken down over 600 crypto scams in the last 12 months, warning that #ArtificialInteligence and #crypto fraudsters are constantly updating their tactics to “lure consumers.”
An average of 20 investment scam websites are taken… pic.twitter.com/1nAKg5HOhi
— NewTribe Capital (@NewTribeCap) August 19, 2024
According to NewTribe, crypto scams came in at 600 only last year, and have ballooned so far as prices surge across the board.
Crypto ATMs Are Under The Crackdown Too
Australian regulators have also turned their attention to crypto ATMs. The country has the third-highest number of such machines in the world, with nearly 2,000 in operation. Authorities suspect that some are being misused for money laundering and pig butchering scams.
Earlier this year, the Australian Federal Police and AUSTRAC carried out a nationwide crackdown on illegal use of crypto ATMs. New transaction limits and operating rules have also been introduced to combat fraud. Over the last year, there were 150 reports of scams linked to these machines, with victims losing more than $2 million.
Rising Crypto Scams Elsewhere
The threat is not limited to Australia. Data shows that cross-border losses from crypto hacks, scams and exploits reached $2.47 billion in the first half of this year. This stands as a slight increase over the same time in the previous year, and shows how the problem continues to grow.
Here’s how Australia has taken down 14,000 scam websites in the last two years, with crypto scams making up 21%.
As interest in crypto expands, scammers are likely to become more creative with their tactics.
Overall, the rise in crypto scams shows the importance of being aware of the risks. ASIC has advised Australians to treat online investment offers, celebrity endorsements, and AI-driven profit claims with scepticism.
While regulators are making progress in reducing total scam losses, crypto being involved means that Australians and everyone else face both risk and opportunity as the sector grows.
