Scam Alert: Australian Govt. Warns Crypto Investors

ASIC Warned Investors About This Dubious Website

Australian Securities and Investments Commission (ASIC) has warned investors about a dubious website appasiccoin.org that uses crypto to scam Australians.

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The site operator is misleading investors by claiming that the investment is backed by ASIC.

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The website named appasiccoin.org also does not have permission to use ASIC's name and has nothing to do with ASIC.

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The website is suspicious because ASIC does not authorize the use of its name or logo to advertise financial products or services.

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Also, it does not have an AFS licence, which means customers are not protected when things go wrong.

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On January 2021, ASIC issued an official “Crypto scam Alert” in relation to Alliance Limited.

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The allegations against alliancelimited.org were very similar to those currently involving appasiccoin.org.

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