Australia's ASIC shuts down 95 companies involved in Crypto Assets fraud.

Gate.io News bot message, the Australian Securities and Investments Commission (ASIC) ruled through the federal court to shut down 95 companies involved in investment and “pig butchering” scams. These companies mainly carried out fraudulent activities by using false information to register and impersonate trading platforms.

ASIC disclosed that the fraud scope of the involved companies includes digital assets, foreign exchange, and commodity investments, with some companies using stolen identities for sign up. ASIC clears over 130 scam websites weekly and describes such scams as “Hydra”; after one scam organization is dismantled, new scam organizations emerge.

Source: cointelegraph