Investors lose millions as crypto schemes operate unchecked in Australia

  • December 13, 2023
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Exclusive: the New Zealand regulator has warned the schemes could be a ‘scam’ but they have escaped such scrutiny in Australia and thousands have lost money

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Thousands of investors have lost millions of dollars in crypto investment schemes that have escaped regulator warnings in Australia, despite financial authorities overseas warning two of the schemes were a possible “scam” and “suspected pyramid scheme”, a Guardian Australia investigation has found.

The schemes have operated under various names including HyperFund and HyperVerse.

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