Cryptocurrency scams and threats
It’s no secret that scammers and cyber criminals have made serious money in the largely unregulated wild west of cryptocurrencies. A great many cryptocurrency users have little understanding of the technology and systems behind blockchain and cryptocurrency, and have been victimised by savvy scammers looking to take advantage of them. According to crypto analytics firm Chainanalysis, crypto criminals reaped US$14 billion in cryptocurrency globally in 2021. The Australian Competition and Consumer Commission revealed in December that crypto scams in Australia had exceeded $100 million for the year – and that was just the officially reported numbers, with many more likely to have gone unreported.
It’s not just criminal scams that users have to be worried about, either. A number of hacked distributed blockchain apps (dApps) and exchanges last year also caused major
