In 2017 the Australian consumers lost more than $2.1 million due to fraud in the cryptocurrency market. These data led the Australian Commission on competition and consumer protection (AKKP) in the annual report on scamu (Targeting scams report 2017).

In the document the regulator noted that from January to September, the fraud cost the consumers about $100 thousand a month. However, in December, when the cryptocurrency market has reached a peak, the amount of loss exceeded $700 thousand.

In the report of akkp specified that the main methods of deception of consumers in this market were counterfeit ICO, schema cryptocurrency pyramids and payments due to viruses extortionists.

The regulator expects that with cryptocurrency related fraud will continue to spread, and also noted in his report:

“As in the case of another Scam, this is likely the tip of the iceberg.”

In this document AKKP noted that the total losses of the Australians from fraud last year exceeded $340 million, and 64 of them occurred in Scam investment schemes.

Earlier in the automatic transmission. reported that last year the Commission received 1,289 complaints of fraud associated with cryptocurrencies. In April of this year, the IRS Australia has been forced to warn captainvalor about the appearance of the fraudsters are charging fake taxes on cryptocurrency transactions.