Latest figures from The Australian Competition and Consumer Commission shows an increase in crypto related scams between June and November last year.
The ACCC reported losses of $374,000 but said actual figures were likely to be higher considering only around 13% of scam victims actually report their experience.
Meanwhile, Google has admitted that it has had to remove fake crypto apps from its platform.
Although Google didn’t specify the number of fake apps it removed, the tech giant reiterated it was vigilant in taking action whenever fake apps were found.
Bitcoin held its value overnight, currently sitting at US$44,300 – an increase of just 0.3% in the past 24 hours.
Altcoin News
The wider crypto market recovery has seen some altcoin projects return positive results this week.
DeFi project Trader Joe has rebounded, rising almost 100 percent from its lows of around US$0.69 hit on 24 January to US$1.39 at present.
Trader Joe’s biggest development so far this year has been the launch of Rocket Joe – a liquidity launch platform. This means that Joe token holders can stake their Joe on the Rocket Joe platform to earn more tokens.
Furthermore, the addition of new projects on the Trader Joe platform has helped boosts the value of the altcoin.
Winners and Losers
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Data Source: Coinmarketcap.com, based on top 100 cryptos.
Note: Growth from the 24 hours prior to 12:30pm AEDT
This news is republished from another source. You can check the original article here
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