Australian ASIC Takes Down Over 3,100 Crypto Scams in Single Financial Year, AI Deepfakes Primary Method

According to Bitcoin.com, the Australian Securities and Investments Commission (ASIC) disclosed on August 17 that a total of over 19,400 online scams were taken down in fiscal year 2026 (a year-on-year surge of 182%), among which cryptocurrency investment scam platforms reached 3,106, an increase of approximately 30% compared to the previous fiscal year. ASIC pointed out that scam groups are heavily leveraging generative AI technology to build a systematic fraud ecosystem: endorsing fake crypto trading bots through deepfake videos of well-known figures such as Australian Prime Minister Albanese and financial commentators, while simultaneously setting up counterfeit media websites, AI-generated comments, and fake profit dashboards to induce victims to continue increasing their investments, with funds ultimately flowing to overseas criminal groups. Losses from the impersonation of high-profile figures alone have already exceeded 7.4 million Australian dollars.