Australian Crypto Mining Scandals

Three Australian cryptocurrency mining companies went bankrupt, leaving investors out of pocket by over $104 million.

The Australian Securities and Investments Commission (ASIC) is suing these companies and their directors for alleged misconduct.

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The companies promised fixed-rate returns on investments but operated without proper licenses.

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[{"selector":"#anim-008d6673-90df-43bb-97eb-d4b109ff507f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Other Australian crypto firms are also facing legal troubles due to mismanagement and regulatory issues. Learn more