Crypto Scams Targeting Australians: How Fake Exchange Ads Work
Fraudsters are targeting Australians with fake crypto swap ads on social media and search engines, luring users to cloned websites that mimic legitimate exchanges like Swyftx. These scams use professional designs, fake endorsements from celebrities like Dick Smith, and urgency tactics to prompt deposits. Once money is sent, portfolios show illusory profits to encourage more investment, but funds are never recoverable.
