According to a new report from the Australian Federal Police (AFP), Australians have lost $122 million (180 million AUD) to crypto scams in the past 12 months, with the majority of the victims under the age of 50. In a statement on August 28, AFP revealed that investment scams caused a total of $269 million (382 million AUD) in losses last year, of which about 47% were related to cryptocurrencies.