The Australian Securities and Investments Commission (ASIC) revealed last Sunday that it coordinated the removal of more than 600 crypto scams last year as part of a broader effort to crack down on online investment scams. ASIC said it has helped take down 5,530 fake investment platform scams, 1,065 phishing scam hyperlinkes, and 615 crypto investment scams. It is estimated that the scams, spread through fake news articles and deep-vacation videos of local public figures, caused a total of $1.30 billion in losses last year. "ASIC reminds all consumers to be vigilant about social media hyperlinkes that facilitate online trading and cryptocurrency investing," the regulator said in a statement. ASIC added that about 20 websites are taken down on average every day, and scammers continue to adapt and find new ways to lure victims. (Decrypt)