**Cryptocurrency Scams Soaring in Australia** The Australian Federal Police (AFP) has issued a warning about the alarming increase in cryptocurrency scams amidst the pandemic. According to the AFP, cryptocurrency scams have exploded, with investors losing over $205 million between January and May 2022. Scammers are exploiting the popularity of cryptocurrency to set up fake apps and engage in other fraudulent activities. Victims are often lured with work-from-home job offers that require them to purchase cryptocurrency. Red flags that may indicate a scam include online searches revealing negative reviews or the absence of a physical business address. If you suspect you have fallen victim to a cryptocurrency scam, it is crucial to report it to the AFP and seek legal advice. Specialist investment fraud law firms, such as Wealth Recovery Solicitors, can assist in recovering lost funds. The AFP urges Australians to be vigilant and to exercise caution when dealing with cryptocurrency. Always verify the legitimacy of any investment opportunities and never share your personal or financial information with unsolicited callers or websites.
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