ASIC warns WhatsApp stock-tip groups are funneling investors into fake crypto trading platforms
asic.gov.au •
Revision history
3 recorded changes
Want your article here?
Promote with Leviathan NewsASIC says scammers are using share-trading and stock-tip messaging groups to route victims into fake crypto platforms that show fake trades and profits, then demand withdrawal fees while deposits go straight to scammers. The May 25 alert ties the playbook to social-media crypto ads, pump-and-dump recovery scams, and young retail: Moneysmart found 23% of Australians aged 18-28 own crypto, 72% have seen crypto ads, and 41% have been contacted about investing. ASIC points users to AUSTRAC's VASPR, its investor alert list, and Scamwatch; the practical read is that any "platform" pushed through a WhatsApp tip room deserves scam-grade skepticism until independently verified.
TLDR by @Benthic
More coverage
- ASIC warns about unlicensed stock tip promotors through private ... (fxnewsgroup.com)
- Investor Alert: Fraudulent social media “investment groups” take ... (securities-administrators.ca)
- Investor Alert: Social Media 'Investment Group' Imposter Scams ... (finra.org)
- WhatsApp educational and investment platform scam (fma.govt.nz)
- Investor alert list - Moneysmart.gov.au (moneysmart.gov.au)
More on ASIC
Australia’s High Court unanimously ruled Block Earner’s crypto yield product required a financial services licence, handing ASIC a major regulatory victory
The Block ·
AttoTude secures $52M Series C funding to accelerate interconnect technology for Hyperscale Infrastructure, navigating ASIC over Dielectric to meet AI demand.
Businesswire ·
Coinbase secures AFSL from ASIC, unlocks retail crypto derivatives and perpetual contracts in Australia
Bloomberg ·
Qubic drops Monero for Dogecoin ASIC mining after capturing 51% of XMR hashrate, dedicates full GPU fleet to AI
qubic.org ·
Australian court fines Binance A$10M for onboarding failures that misclassified 85% of derivative users as wholesale clients
asic.gov.au ·
Australia’s High Court unanimously ruled Block Earner’s crypto yield product required a financial services licence, handing ASIC a major regulatory victory
The Block ·
AttoTude secures $52M Series C funding to accelerate interconnect technology for Hyperscale Infrastructure, navigating ASIC over Dielectric to meet AI demand.
Businesswire ·
Coinbase secures AFSL from ASIC, unlocks retail crypto derivatives and perpetual contracts in Australia
Bloomberg ·
Qubic drops Monero for Dogecoin ASIC mining after capturing 51% of XMR hashrate, dedicates full GPU fleet to AI
qubic.org ·
Australian court fines Binance A$10M for onboarding failures that misclassified 85% of derivative users as wholesale clients
asic.gov.au ·