Five tips to avoid being conned by crypto fraudsters

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Five tips to avoid being conned by crypto fraudsters

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 Five tips to avoid being conned by crypto fraudsters
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Highlights

  • Scammers have recently become nightmares for Australians.
  • According to the ATO, scammers impersonating the ATO demand cryptos, including Bitcoin, as payment for fake tax debts.
  • The ATO has received over $50,000 in Bitcoin from scammers claiming fake ATO tax debts.

Scammers lurk everywhere, whether in the real world or the crypto world, to prey on innocent people.

Scammers have recently become nightmares for Australians. They frequently attempt to 'phish' for financial and personal information, latest, by impersonating government entities such as the ATO.

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How do scammers prey on Australians through cryptocurrency?

Let's look at the issues that the Australian Taxation Office is dealing with due to fraudsters.

  1. According to the ATO, scammers impersonating the ATO demand cryptos, including Bitcoin, as payment for fake tax debts.
  2. The ATO has received over $50,000 in Bitcoin from scammers claiming fake ATO tax debts.

How can Australians protect themselves from fraudsters?

Let's look at a checklist of ways to protect yourself from scammers.

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Five tips to avoid being conned by crypto fraudsters

The final thoughts 

No one can deny that digital currencies pose a risk. Fraudsters enter the crypto realm to steal more money and carry out their criminal activities. The target can be anyone. As a result, caution and wisdom are required for crypto investments.

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