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Cryptocurrency investment scams in Australia cost victims a record $14.76 million between January and July this year. That’s according to the Australian Competition and Consumer Commission (ACCC). The commission states that many of these fraudulent operations leverage social media platforms, fake celebrity endorsements, or online trading platforms that are made to look legitimate in an attempt to attract prospective investors. In a statement promoting a scheme seeking to raise awareness about fraudulent activity in the country, ACCC Deputy Chair Delia Rickard urged citizens to learn about modern scams to stay protected. “People need to update their idea of what a scam is…

This story continues at The Next Web