Aussies warned to avoid crypto paper wallets they find on the street

Australians have been warned to stay away from suspicious-looking fake Bitcoin paper wallets, which work by luring victims into accessing a lucrative crypto wallet but will ultimately drain them of their own crypto holdings.

According to a Nov. 22

Australians have already proven to be particularly susceptible to investment and crypto-related scams this year, losing 242.5 million Australian dollars to scammers so far in 2022, according to data from the Australian consumer watchdog’s Scamwatch website. 

The country’s federal law enforcement agency has also highlighted the criminal use of crypto as an “emerging threat” but says it’s a challenge to keep pace with criminals who are constantly changing tactics and methods.