In its fight against online investment fraud, the Australian Securities and Investments Commission (ASIC) reported that it coordinated the resolution of more than 600 cases related to cryptocurrency scams in the last year. According to ASIC statistics, they have helped dismantle 5,530 fraudulent schemes for fake investment platforms, 1,065 deceptive links containing phishing links, and 615 cryptocurrency investment fraud cases. The estimated losses from these scams, which involved the dissemination of fake news articles and the use of deepfake videos featuring local public figures, amounted to approximately $1.3 billion. ASIC emphasizes that all social media links related to online transactions and cryptocurrency investments should raise consumers' suspicions. The regulatory body further noted that about 20 related websites are shut down daily, with fraudsters continually seeking new tactics to lure victims.