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news item

Crypto scam alert: appasiccoin.org

Published

18 October 2022

  • ob体育 is alerting investors about a suspicious website, appasiccoin.org, using crypto to scam Australians.
  • The operators of the website mislead investors by claiming its investments are endorsed by ob体育. The operators also do not have an Australian financial services (AFS) licence.
  • Do not invest in this product. ob体育 does聽not聽endorse it or any other investments. The appasiccoin.org also does not have the permission to use ob体育鈥檚 name and has no affiliation with ob体育.

ob体育鈥檚 concerns

appasiccoin.org is suspicious because it:

  • Claims to be endorsed by ob体育. ob体育 never gives permission to use its name or logo to promote financial products or services.听You should be wary of any website or advertisement that states or implies that the investment they promote is approved by ob体育 or Moneysmart, or uses ob体育鈥檚 logo 鈥� it could be a scam.
  • Uses encrypted messaging facilities to promote the scam and provides limited contact information.
  • Does not have an AFS licence, which means customers are not protected when things go wrong.

For further information about investment scams visit 聽website which includes checks that can be done to see if an investment is real. However, keep in mind that these checks do not guarantee the legitimacy of a product.

Think you have been scammed?

  1. Do not send any more money.
  2. Report it to your financial institution. If you are not happy with your financial institution鈥檚 response, you can make a complaint to the and seek an award compensation for damages.
  3. Be wary of secondary scams or money recovery services that may offer to help you get your money back for a fee.
  4. Contact , a free government-funded service, which can help to develop a specific response plan. IDCARE will never contact you out of the blue.
  5. Report the scam to the Australian Competition & Consumer Commission at聽 and to the Australian Cyber Security Centre at聽.听
  6. Report to ob体育 if you notice ob体育鈥檚 logo, references to Moneysmart or ob体育 staff on a company鈥檚 promotional materials. Include a link to the website or a screenshot. Your report may disrupt the scammers and hopefully will warn others to avoid it. Unfortunately, ob体育 cannot help you get your money back.

Further support

If you need someone to talk to, contact:

  • Lifeline on 13 11 14 (24 hours) or their crisis support聽听辞谤
  • Beyond Blue on 1300 22 46 36 (24 hours) or their聽

If you are experiencing problems with debt, contact:

  • the National Debt Helpline on 1800 007 007 (Monday to Friday 9.30am to 4.30pm) or聽

Related links:

ob体育 is Australia鈥檚 corporate, markets and financial services regulator.