Aussies are facing a dramatic surge in phishing scams as cybercrooks exploit fear and urgency to trick them into handing over their money and cryptocurrency.
According to the National Anti-Scam Centre’s Scamwatch service, Australians filed over 16,700 phishing scam reports, with victims losing more than $11.1 million between Jan. 1 and March 23, 2025 – a 200% increase in financial losses compared to 2024.
Notably, 75% of these losses were attributed to cryptocurrency phishing scams that preyed on users’ emotions, using scare tactics to induce recipients to act without second-guessing the message. Some of the most common phrases included:
Scammers also impersonate trusted institutions, such as banks or crypto exchanges, to send urgent emails, texts, or even make phone calls claiming the victim’s account is under threat. The ultimate goal? To trick the user into logging in via a fake site or transferring funds into a scam-controlled wallet.
“We found an increase in money lost when these scams involve claims that cryptocurrency accounts or wallets have been compromised,” said ACCC Deputy Chair Catriona Lowe. “Scammers often impersonate cryptocurrency platforms and warn people about suspicious activity on their accounts. They then pressure people to transfer their holdings to fraudulent cryptocurrency wallets.”
These phishing tactics come in various forms, but they follow the same manipulative playbook:
In many cases, scammers spoof the SMS SenderID of banks or exchanges, making their messages appear in the same thread as legitimate ones. This makes it even harder to detect the scam.
You can read more about crypto scams in these dedicated articles:
1. Don’t click any links in messages or emails about suspicious activity—even if they look official.
2. Visit the official website or app directly. Don’t rely on links from messages. Call the company using the contact information from their official website.
3. Turn on multi-factor authentication (MFA) for all your accounts. You’ll get alerts if someone tries to log in—and never, ever share these codes with anyone.
Extra Protection: Use Bitdefender Scamio and Link Checker
You’re not alone in the fight against scams. Bitdefender offers free tools that help you avoid falling victim.
A free AI chatbot that lets you:
Available on web, Messenger, WhatsApp, and Discord.
Unsure about a link? Paste it into Link Checker to instantly scan it for phishing, malware, or scam pages.
Remember: Don’t click. Don’t rush. Don’t trust—until you’ve verified.
Next time a message says “Your account has been compromised”—don’t fall for it.
Check it with Scamio. Scan it with Link Checker. Stay safe.
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Alina is a history buff passionate about cybersecurity and anything sci-fi, advocating Bitdefender technologies and solutions. She spends most of her time between her two feline friends and traveling.
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