Australia’s Wild Crypto Hunt: 95 Companies Meet Their Piggy End! 🐷💰

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Oh, gather ’round, dear readers, for a tale of woe and wonder! The land down under, Australia, has decided to play the role of the mighty hunter, and what are they hunting, you ask? A whopping 95 companies that have been up to no good in the world of crypto! Yes, you heard it right! These cheeky little rascals were allegedly involved in something called pig butchering scams. 🐖💔

On the fateful day of April 8, 2025, the Federal Court waved its magic gavel and said, “Enough is enough!” The securities regulator, with a twinkle in their eye, got the green light to shut down these dubious enterprises. It’s like a fairy tale, but instead of a prince, we have a court order! 🏰⚖️

Australia’s Crypto Cleanup: 95 Companies in the Slaughterhouse!

Our brave heroes at the Australian Securities and Investments Commission (ASIC) have donned their capes and set out to save the day! They sought the court’s approval to put the kibosh on these 95 firms, which were reportedly as trustworthy as a chocolate teapot. 🍫☕️

These companies were not just dabbling in crypto; oh no! They were also playing the love game, luring unsuspecting victims into their web of deceit with romance scams. Imagine a hacker, dressed as a charming suitor, whispering sweet nothings while leading you straight into a pig butchering scheme! How romantic! 💘🐷

What on Earth Are Pig Butchering Scams? A Lesson from ASIC’s Deputy Chair!

Now, let’s hear from the wise Sarah Court, the Deputy Chair of ASIC, who likened these scams to “hydras.” Yes, you heard that right! Cut off one head, and two more pop up! It’s like a game of whack-a-mole, but with more fraud and fewer prizes. 🎯🐍

Sarah, with a serious face, declared,

“ASIC believes many of these companies were set up with the aim of providing a veneer of credibility by purporting to provide genuine services. This action has shut these companies down and protects consumers from entities with no proper management or control, including some that were associated with potentially fraudulent activity.”

And just when you thought it couldn’t get any juicier, the ASIC’s crackdown comes hot on the heels of India’s arrest of five individuals involved in a Japan-linked crypto scam worth a staggering $700k! Talk about a global game of cat and mouse! 🐱🐭

Australia’s Battle Against Crypto Fraud: The Saga Continues!

But wait, there’s more! The ASIC is on a roll, dismantling over 130 scam websites every single week! That’s right, folks! They’re like the superheroes of the digital age, swooping in to save the unsuspecting from the clutches of crypto villains. 🦸‍♂️💻

“Our ongoing work to uplift and improve our registry system will also help to prevent conduct such as this from occurring in the future,” stated the ever-determined Court. And just when you thought it was safe to look for a job, crypto exchange Deribit issued a warning about job scams! Scammers are now impersonating big-name crypto firms to lure in job seekers. Oh, the audacity! 😱💼

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2025-04-08 14:59