asic

Australia is facing a wave of crypto-related scams ranging from deepfake celebrity endorsements to crypto ATM fraud and even impersonations of the country’s financial watchdog itself. The scams have become increasingly sophisticated, and the Australian Securities and Investments Commission (ASIC) is stepping up its response.
1) Scammers Get Sophisticated
Across the country, fraudsters are targeting investors with convincing schemes. In Western Australia alone, scammers exploiting fake celebrity endorsements, including deepfake videos, have defrauded victims of over $10 million so far this year, part of nearly $20 million stolen since 2024.
These schemes often start small, luring investors with promises of rapid wealth, before escalating into larger demands for money or crypto transfers. To make matters worse, victims are sometimes targeted a second time by “recovery experts” who claim they can help retrieve lost funds but are in fact scammers themselves.
Some fraudsters have even gone so far as to impersonate ASIC. Fake emails and texts tell victims their funds are “frozen” and demand payment for release, usually in cryptocurrency. ASIC warns that it never makes such demands and advises Australians to treat these communications with extreme caution.
2) Online Scams and Fake Platforms
ASIC has also ramped up efforts to remove malicious websites and platforms. Since mid-2023, more than 14,000 scam sites, around 3,000 of them crypto-related have been taken offline, with an average of 130 removals per week.
New scam tactics include:
AI trading bots: fraudsters promote fake AI-powered platforms with unrealistic returns.Professional templates: slick websites and fake documents mimicking real firms.Fake live data: embedded charts or trading feeds giving the illusion of legitimacy.Cloaking: websites that show different content depending on who visits, making detection harder.
Scammers also rely heavily on social media advertising, often using deepfake videos or fake news articles to promote fraudulent platforms. ASIC has prioritized working with tech platforms to bring down these ads.
3) Crypto ATM Abuse
Misuse of crypto ATMs has emerged as another major problem. Many high-volume users of these machines are not criminals, but scam victims directed to deposit cash or transfer funds into crypto wallets controlled by fraudsters.
In the past year alone, more than 150 scam cases tied to crypto ATMs drove losses above $2 million. Australia ranks third globally in crypto ATM numbers, which makes them an attractive tool for scammers looking to launder money quickly.
4) Legal Action
ASIC has made it clear that it is prepared to prosecute individuals engaged in crypto fraud. Recent cases include high-profile scams run by Australians that defrauded investors of hundreds of thousands of dollars. By pursuing these cases in court, ASIC is signaling that crypto-related scams will be treated with the same seriousness as traditional financial crimes.
5) A United Front
The creation of the National Anti-Scam Centre (NASC) has strengthened the fight against financial crime. ASIC now works closely with banks, law enforcement, telecom providers, and other regulators to share intelligence and coordinate enforcement. These partnerships are central to Australia’s evolving strategy against online fraud.
Final Thoughts: Protecting Yourself

Verify every investment offer, especially those involving crypto, AI bots, or celebrity endorsements.Ignore demands for payment from anyone claiming to be ASIC; it is always a scam.Use official investor alert lists to check whether a platform is legitimate.If targeted by scammers: block the contact, alert your bank or exchange, and report to ASIC or Scamwatch.
Crypto remains a legitimate but risky investment frontier. In Australia, scams are growing in volume and sophistication, but ASIC’s aggressive takedown campaigns, prosecutions, and partnerships are making an impact. Staying informed and skeptical is the best defense.

#asic
#CryptoRally
#CryptoScamAlert
#SafeInvestingWithBinance
#CryptoAustralia

In 2025, when Layer 2 solutions, modular blockchains, and PoS (Proof of Stake) consensus mechanisms have become the focal points of the industry, revisiting an old project born from the 'forking wave' of 2017—Bitcoin Gold ($BTG)—seems somewhat out of place. However, the philosophical birth of BTG, which is **'resisting ASIC'**, provides a unique and thought-provoking perspective in today’s world where computational power is increasingly centralized.
$BTG is not just another 'altcoin' compared to Bitcoin; it is a social experiment about the path to achieving 'decentralization'. Beyond the efficiency of PoS and the absolute security of BTC (ASIC-PoW), $BTG attempts to preserve the last bastion for 'GPU mining'.

In a significant organizational step, the Australian Securities and Investments Commission (ASIC) announced the granting of a special exemption, the first of its kind, allowing local brokers to distribute licensed stablecoins without the need to obtain separate financial licenses. This initiative is viewed as a breakthrough in the development of the digital asset market within Australia.

📅 November 22 | United States
In a world where industrial farms dominate Bitcoin mining, an improbable event has just shaken up the narrative: an amateur miner, operating from home and using an old ASIC, managed to solve an entire block, earning a reward of $265,000. This statistical stroke of luck happens once in a million, but when it does—as it did today—it generates a mixture of hope, nostalgia, and controversy within the community.

📖According to CoinDesk, the amateur miner —whose identity remains anonymous— was operating a modified S9 ASIC, a model now considered obsolete compared to the latest generation machines like the S21 and M60. However, despite its low power, the ASIC managed to participate in the global proof-of-work process and solve a valid block, earning the combined reward of 6.25 BTC plus fees, equivalent to $265,000 at the time of the discovery.
Technically, the probability of a single miner finding a block is minuscule, comparable to winning the lottery. Most individual miners rely on mining pools to receive consistent rewards, but this operator decided to try it alone. And the improbable result has reignited the debate about whether home mining still has a place on the Bitcoin network.
Analysts pointed out that while the event is extraordinary, it doesn't change the underlying structural reality: mining is more centralized than ever, dominated by large corporate operations with access to cheap energy and cutting-edge hardware.
Even so, this unexpected victory serves as a reminder that the proof-of-work system remains probabilistic, not deterministic. Even an old machine can, purely statistically, hit the jackpot. The miner plans to keep a portion of the winnings and sell the rest to cover electricity costs, which were already “extremely high” even when operating with a single ASIC.

Topic Opinion:
Yes, industrial mining reigns supreme, but mathematical randomness is still alive. Although it's nearly impossible to make a living from home mining today, moments like this remind us that Bitcoin isn't a system designed for a privileged few. Decentralization may seem weakened, but it's not destroyed. Bitcoin still has room for dreamers. Even if it's just a one-in-a-million chance.
💬 Do you think this is just a lucky break that can't be replicated?

Leave your comment...
#bitcoin #Mining #asic #CryptoNews #BTC $BTC