Weekly Crypto Wrap: 14th September 2023

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Rachael Lucas
Weekly Crypto Wrap: 14th September 2023


  • Bitcoin survives death cross as investors eye buying opportunities.
  • Crypto analysts note short-term apathy, long-term bullish outlook.
  • Ripple acquires Fortress Trust in expansion beyond payments.
  • Banking giant HSBC reportedly working with Fireblocks.
  • Chainlink whales accumulate US$9.6M worth of LINK in 3 days.
  • Vitalik Buterin may have found a way to anonymise blockchain transactions.

BTC Markets in the news

G20 agrees on worldwide crypto regulation as Australia struggles with limited oversight in the sector.

During the recent Group of 20 (G20) meeting held under India's presidency, member nations collectively committed to collaborating on the establishment of a synchronised global regulatory framework for cryptocurrencies, fostering cross-border cooperation, and enhancing information sharing.

Kristalina Georgieva, the Managing Director of the International Monetary Fund, announced the development of a roadmap to address crypto assets and regulatory measures. This initiative aims to facilitate progress in this area in the coming month.

"However, one of the key challenges facing the cryptocurrency industry globally is the delay in implementing these recommendations at a national level, according to Caroline Bowler, chief executive of Australian digital asset exchange BTC Markets."

“While international organisations are setting the framework for a harmonised regulatory environment, it is imperative that governments and regulatory authorities act promptly to translate these guidelines into actionable regulations. Delayed implementation could hinder the industry’s growth, create uncertainty, and potentially leave investors and consumers exposed to risks,” Bowler said.

Read the full article here.

The potential sale of FTX's crypto holdings could significantly impact Solana.

The potential selling of FTX’s crypto holdings could hit Solana particularly hard, according to crypto technical analyst at Australia-based crypto exchange BTC Markets. The token “forms a substantial portion of these assets, with an estimated value of approximately US$685 million. This impending event has heightened the sense of uncertainty among SOL investors.”

Meanwhile, Bitcoin is on the verge of a “death cross” — where the token’s short-term, 50-day Simple Moving Average (SMA) moves below its long-term, 200-day SMA. That could signal a coming slide in Bitcoin prices.

“The looming question that occupies the minds of market participants pertains to whether Bitcoin will chart a similar course in response to this bearish technical pattern or has the market already priced in this event?”.
“This uncertainty is exacerbated by the forthcoming release of U.S. inflation figures, with technical indicators currently signalling the potential for further downside,” she added.

Read the full article here.

BTC Markets announcements

CEO Caroline Bowler joins global crypto leaders at TOKEN2049 in Singapore.

This week, our CEO, Caroline Bowler, attended TOKEN2049, the premier crypto gathering held annually in Singapore. This event is a pivotal platform where industry leaders, founders, and executives from top Web3 companies and projects converge to share their insights and perspectives on the cryptocurrency landscape.

TOKEN2049 casts a global spotlight on the latest developments in the crypto world, offering a unique and comprehensive view of the ecosystem's vast opportunities. It serves as a nexus for entrepreneurs, investors, developers, industry insiders, and global media, fostering invaluable networking opportunities. Singapore, known for its innovation and technological advancements, transformed into a vibrant crypto hub during this exciting week.

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State of crypto

  • Bitcoin remains rangebound as investors eye buying opportunities.
  • Daily “Death Cross” technical pattern observed on Bitcoin.
  • Rumours of FTX seeking to liquidate US$3.4 billion in assets.
  • Bitcoin dominance remains at 49.52%.

Bitcoin has endured its fourth consecutive week in negative territory, as price remained rangebound, trading between US$26,455 and US$25,372. Earlier this week, we highlighted the emergence of a 'Death Cross' on the daily chart, a phenomenon last observed in January 2022, which led to a subsequent 10.41% price drop, followed by a 35% recovery in price over a three-week period.

A "Death Cross" is a bearish technical pattern in which a short-term moving average, like the 50-day, crosses below a long-term moving average, often the 200-day, on a price chart, signalling potential price declines.

Conversely, a "Golden Cross" is a bullish pattern where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum. Traders use these patterns, commonly seen in cryptocurrencies and stocks, as signals for trend changes, but they should be complemented with additional analysis for informed trading decisions.

Recent activities in the cryptocurrency market have been marked by sporadic spikes of volatility. Bitcoin, for example, went through an extended period of sideways trading that started on June 22 and lasted for 57 days, only to be disrupted by a billion-dollar liquidation event on August 17, resulting in a 7.33% price drop in 24 hours.

Bitcoin experienced a momentary dip below the US$25,000 mark on Monday, fuelled by rumours of FTX seeking court approval to liquidate US$3.4 billion in crypto assets, aiming to reimburse creditors in cash. The crypto community deliberated on the potential repercussions for the market, with certain individuals foreseeing a drop in value before the sales commence. Conversely, others emphasised that the assets slated for sale primarily consist of vesting tokens, which means they cannot be sold or transferred until their release date.

For now, the sentiment remains bearish as long as prices stay below the 50-day simple moving average. In September, historical data indicates that digital assets, including Bitcoin, have typically delivered negative returns, intensifying market concerns.

In terms of weekly price performance across the majors, Bitcoin closed at US$25,841.61, losing 0.50% whilst Ethereum was also down 1.13%, closing the week at US$1,617.42. XRP lost its psychological support at 50 US cents, closing at US$0.4969, down 1.55%. Litecoin mirrored the bearish sentiment with a 4.41% loss, ending the week at US$61.11, and Cardano wrapped up the week at US$0.2490, marking a 2.70% decrease in value. Meanwhile, Solana faced downward pressure, losing 6.81% during the week and closing at US$18.24.

Regarding market capitalisation, Bitcoin managed to secure a second consecutive week of positive gains, with a 0.39% increase, maintaining a dominance rate of 49.52%. However, the broader cryptocurrency market contracted by 0.87%, resulting in a total market capitalisation of US$1.016 trillion by the end of the week.

When evaluating the year-to-date performance from a broader viewpoint, Bitcoin continues to maintain its leading position with a substantial increase of 58.38%. XRP, previously a prominent contender, has seen a modest reduction in its advantage but still commands a respectable gain of 42.22%. Ethereum closely trails with a 34.48% rise, whereas Cardano is just about staying in positive territory with a modest increase of 1.26%. In contrast, Litecoin remains in the negative zone, experiencing a loss of 11.33%.

*The weekly trading stats as of Monday, September 11th at 10:00 am AEST, based on data from Tradingview in USD.

**Year -to-date performance as of Thursday September 14th at 10:00 am AEST, based on data from Tradingview.

Crypto news

Crypto analysts note short-term apathy, long-term bullish outlook.

Despite several outsized moves in previous weeks Bitcoin continues to experience the symptoms of an apathetic market, analysts say.

Liquidity, volume, and volatility still linger near historical lows, bolstering the likelihood the industry has entered a period of “extreme apathy,” crypto-research firm Glassnode wrote on Monday.

After shedding more than 3% of its value on Monday, Bitcoin (BTC) has clawed back losses, rising 4.5% over an 11-hour period to US$26,150, according to data from Blockworks.

On-chain data suggests the current market mood echoes the advanced bearish phases seen in previous years, most notably in 2015 and 2019, according to analysts at K33 Research.

“We reiterate our bullish outlook for BTC over the coming year, but in the short term, liquidity pressure can be on the sell-side,” the firm said. “This further adds to our belief that the coming period is a good time to accumulate.”

Observers are now eyeing the possibility of approval for a spot Bitcoin ETF, a decision subject to further delays, alongside Bitcoin’s halving event which is expected sometime in April 2024.

Buy Bitcoin now on BTC Markets.

Ripple acquires Fortress Trust in expansion beyond cross-border payments to blockchain solutions.

Ripple is set to acquire Fortress Trust, a subsidiary of Fortress Blockchain Technologies. This move is aimed at strengthening Ripple’s position in the enterprise crypto market. Ripple recently acquired Metaco, a crypto custody provider, for US$250 million. Ripple CEO Brad Garlinghouse said,

“Acquiring Fortress Trust affords us a lot of optionality to both improve the current customer experience in our existing products and explore new, complementary products – all in service of becoming the one-stop shop for enterprises looking to convert, store, and move value on blockchain around the world.”

Ripple’s acquisition of Fortress Trust aligns with its ambition to offer comprehensive blockchain-related services to enterprises. Initially focused on cross-border payments using blockchain and cryptocurrency, they now provide liquidity management, tokenisation, and CBDC solutions to customers in more than 55 countries.

Fortress Trust holds a Nevada Trust license, adding to Ripple’s existing regulatory licenses, including a NY BitLicense, over 30 Money Transmitter Licenses in the U.S., and an in-principle Major Payment Institution License from the Monetary Authority of Singapore.

Ripple became a minority investor in Fortress Blockchain Technologies in 2022 as part of its seed funding. Following the closure of the deal, Ripple will also invest in parent company, Fortress Blockchain Technologies and its FortressPay services. Closure of the acquisition is subject to due diligence and regulatory approval.

Buy XRP now on BTC Markets.

Vitalik Buterin may have found a way to anonymise blockchain transactions.

Ethereum (ETH) co-creator Vitalik Buterin and friends may have found a genuine solution to blockchain’s privacy-leaking problem. Or at least a new way to build cryptocurrency mixers that can obfuscate the origin of cryptocurrency funds.

A new theoretical paper co-written by Buterin explores a way of combining a few existing technologies like zero-knowledge proofs and lesser known “Privacy Pools”, detailing a mechanism by which dishonest crypto users can be rooted out of crypto mixing protocols.

“The core idea of the proposal is to allow users to publish a zero-knowledge proof, demonstrating that their funds (do not) originate from (un)lawful sources without publicly revealing their entire transaction graph. This is achieved by proving membership in custom association sets that satisfy certain properties, required by regulation or social consensus.”

This is both a technological technology and a social technology, a way of joining a crypto washing pool to hide your own blockchain history while also having the right to dissociate from criminals or bad actors who would want to abuse a privacy tool for money laundering.

However, not everyone is happy about a compromise between compliance and privacy. Some observers have concerns about picking and choosing who to interact with in a smart contract, reasoning that one of the key strengths of blockchains is that they are designed to treat everyone equitably.

Blockchains are by default transparent, nodes need to be able to validate transactions and the system can only be “trustless” insofar as everyone can independently verify the same data. This is a revolutionary idea in terms of establishing relationships between counterparties and settling transactions, but it presents a problem if the blockchain’s built-in pseudo-anonymity is cracked.

The “main innovation” the privacy researchers found is something called an association set, which essentially lets a group of trustworthy crypto users run their own crypto mixers. Zero knowledge proofs are layered in to weed out tainted funds and bad actors as well as boosting everyone’s privacy by allowing users to only reveal the information necessary to prove they are acting above board.

Read the full research paper here.

Buy ETH now on BTC Markets.

Banking giant HSBC reportedly working with crypto custody firm Fireblocks.

London-based HSBC, one of the largest banks in the world, is working with cryptocurrency custody technology firm Fireblocks, according to reporting from crypto publication, Coindesk.

HSBC, which holds about US$3 trillion in assets, lets customers of its Hong Kong branch trade in Bitcoin (BTC) and Ether (ETH) exchange-traded funds. HSBC didn’t respond to requests for comment by publication time and Fireblocks declined to comment.

Fireblocks specialises in cryptocurrency safekeeping technologies such as multi-party computation (MPC) and, even before this partnership, had experience working with big banks. Back in early 2021, Fireblocks became the custody technology provider of choice for BNY Mellon, and it also works with BNP Paribas.

However publicly, the bank remains somewhat cautious of crypto. In July of this year, HSBC-owned Hang Seng Bank, also in Hong Kong, said that while licensed crypto companies can open a bank account, they’ll only be able to get a “simple” one.

The enthusiasm of big banks towards crypto has been dampened by regulatory uncertainty around digital assets in the U.S. and Australia. This lack of clarity is arguably allowing financial institutions in places like Europe and Asia to win an advantage over their American and Australian peers.

Chainlink whales accumulate US$9.6M worth of LINK in 3 days.

Chainlink (LINK) has managed to break through a critical resistance level at US$6.00. This unexpected surge in price can be attributed, in part, to the relentless accumulation of LINK tokens by large wallet investors, known as whales.

Over the past month, LINK was down by approximately 14%. Surging beyond the crucial resistance level at US$6.00 was surprising given the current bearish market conditions.

According to crypto market intelligence platform Santiment, the “whale” tier of LINK investors has been amassing coins. As a result, the number of wallets holding 10K-100K LINK has surged to levels not seen in the last nine months.

Shedding more light on the latest accumulation patterns, Santiment observed that this cohort of holders has added a staggering US$9.6 million worth of LINK tokens in the last three days alone.

Santiment’s analysis also shows that Chainlink whales collectively hold over 0.15% of LINK’s entire circulating supply. There has also been an increase of 98 new Chainlink wallets holding between 10K-100K LINK tokens since September 3rd, representing a growth of more than 3.2%.

The global financial messaging network Swift recently announced the successful transfer of tokenised value across multiple private and public blockchains in recent experiments alongside Chainlink. Swift used Chainlink's Cross-Chain Interoperability Protocol (CCIP), released in July to help build cross-chain applications and services, to connect with different blockchains.

LINK current price is around AU$9.44, down 4.6% for the week.

The week ahead: upcoming economic events

September 14th: Euro Area European Central Bank (ECB) Interest Rate Decision. ECB Press Conference. United States’ (US) Monthly PPI and Monthly Retail Sales.

September 15th: China’s Industrial Production and Retail Sales YoY.

September 16th: US Michigan Consumer Sentiment.

September 18th: Canada’s PPI MoM & YoY.

September 19th: Reserve Bank of Australia (RBA) Meeting Minutes. Canada’s Inflation Rate YoY. US Building Permits.

September 20th: Japan’s Balance of Trade and Inflation Rate YoY.

September 21st: US Federal Reserve Interest Rate Decision and Press Conference. US Federal Open Market Committee Economic Projections. Australia’s RBA Bulletin.

Economic Calendar (

Market reflections


  • Consumer sentiment declined by 1.5% in September, points to pessimistic outlook.
  • The RBA attributes the interest rate pause to a deceleration in consumer spending.
  • Australia's business confidence has shifted back into positive territory.

Despite the Reserve Bank of Australia (RBA) maintaining interest rates for the third consecutive month, consumer sentiment in Australia, as measured by the Westpac-Melbourne Institute's consumer sentiment index for September, declined by 1.5% compared to August. This indicates that there are more pessimistic consumers than optimists. Importantly, the index has consistently been below the neutral 100 mark since March 2022, marking the longest period of low sentiment since the early 1990s recession.

One of the reasons the RBA chose not to raise rates last week was a noticeable slowdown in consumer spending. However, the bank did caution that rate hikes might become necessary in the future to control inflation.

The decision to pause rate hikes, did boost confidence among mortgage holders, with a 7.8% increase in confidence recorded for the month. However, this was offset by a 6.1% decrease among renters and a 5.8% drop among consumers who own their homes outright.

The survey underscores the persistent financial challenges faced by households, primarily due to the enduring impact of the high cost of living, and although the concern about increasing interest rates is anticipated to diminish, a sustained boost in confidence will probably hinge on households achieving a greater sense of financial security in their day-to-day expenses.

The survey also revealed a 4.4% decline in confidence regarding family finances and a 3% decrease in the belief that it is a good time to make significant household purchases.

While Australian business confidence has returned to positive territory, firms are grappling with significant cost pressures, and inflation is expected to remain elevated. National Australia Bank's monthly survey released on Tuesday revealed that business confidence improved slightly in August, but the sentiment varied across different industries.


  • Markets shrug off hotter than expected US CPI reading for August.
  • G20 Summit in New Delhi achieved full consensus on global cryptocurrency regulations.
  • Goldman Sachs CEO expresses uncertainty about U.S. economy.
  • China experiences a shift in economic dynamics with a modest increase in consumer prices.
  • The UK economy experienced its most significant contraction of the year as job market softens.

The G20 Summit

The 2023 G20 Summit held in New Delhi, India, marked a historic moment as the first G20 summit hosted by the country, with a focus on sustainable development. Key outcomes included Prime Minister Narendra Modi's successful diplomacy in garnering support for a Ukraine recognition declaration and advocating for global institution reform.

The G20 New Delhi Declaration achieved full consensus, covering diverse topics such as multilateral development banks, cryptocurrency regulation, and climate action, pledging trillions for clean energy and climate funding.

United States

In August, the Consumer Price Index (CPI) saw a 0.6% monthly increase, resulting in a year-on-year inflation rate of 3.7%, slightly exceeding the expected 3.6%. While this headline figure had limited market impact, it marked the most significant monthly rise of the year.

This surge in prices was primarily driven by energy costs, with the energy index increasing by 5.6% in the month, including a significant 10.6% surge in gasoline prices. Consequently, this increase in headline inflation impacted workers' wages, resulting in a 0.5% decline in real average hourly earnings for the month.

Notably, shelter costs continued their upward trend for the 40th consecutive month, indicating persistent rent increases. However, there is growing concern surrounding the transportation sector, which experienced a substantial jump from 0.3% in July to 2.0% in August, a metric closely monitored by the Federal Reserve.

Goldman Sachs CEO David Solomon expressed uncertainty about the U.S. economic outlook, despite a potential soft landing, emphasising that inflation could persist longer than expected. He acknowledged the Federal Reserve's efforts to control inflation but suggested that further actions might be necessary.

While market expectations currently indicate declining interest rates in the future, Solomon cautioned that this might not materialise. He highlighted the uncertainty surrounding the trajectory of interest rates. Despite these concerns, optimism about the U.S. economy avoiding a recession has led to a reopening of capital markets and significant IPOs. Solomon also criticised U.S. proposals to raise capital requirements for larger banks, echoing concerns about their impact on economic growth and access to capital for businesses.


China experienced a shift in economic dynamics with its inflation rate and trade surplus in August. Consumer prices in China saw a modest year-on-year increase of 0.1%, falling below market expectations of 0.2%, following a rare deflationary trend the previous month.

Concurrently, China's trade surplus declined to US$68.36 billion, down from the previous year and below market forecasts. This was driven by a significant contraction in exports and continued import declines. Despite these fluctuations, China maintained a substantial trade surplus for the first eight months of the year. China's foreign ministry spokesperson, Mao Ning, emphasised the resilience of China's economy, dismissing Western concerns about its stability and rejecting claims of impending collapse.


The ZEW Indicator of Economic Sentiment for Germany in September increased slightly, but the assessment of the current economic situation in Germany deteriorated significantly, reaching a three-year low. Financial market experts hold a more pessimistic view of Germany's current economic state, despite slightly brighter expectations for the next six months.


In July 2023, the British economy experienced its most significant contraction of the year, with a 0.5% month-over-month decline, reversing the 0.5% growth observed in June. This decline was worse than the market's expected 0.2% fall. The UK's recent jobs report shows a marginal increase in the unemployment rate to 4.3% for the quarter through July, in line with market expectations. However, the standout data point is the significant wage growth, with average earnings excluding bonuses surging to 7.8% year-on-year in July, the highest increase since 2001.

This has prompted UK Finance Minister Jeremy Hunt to emphasise the need to combat inflation for sustainable wage growth. Bank of England Governor Andrew Bailey's recent remarks, combined with this data, are crucial for assessing the central bank's interest rate outlook, with markets currently pricing in a 70% probability of a 25-basis point interest rate hike on September 21st.


Canada's unemployment rate held steady at 5.5% in August, putting an end to a three-month trend of increases. This job growth exceeded expectations, with analysts projecting a gain of 15,000 jobs and a slight uptick in the unemployment rate to 5.6%. The Bank of Canada chose to maintain its benchmark interest rate, citing signs of economic deceleration. However, it emphasised continued monitoring of inflation and labour market trends, leaving the door open for potential rate hikes in October.

Regulation roundup

G20 Summit garners support for global cryptocurrency regulation.

Earlier this week, the Financial Stability Board (FSB) and the International Monetary Fund (IMF) recommended crypto cross-border cooperation and information sharing in a joint report to the G20, warning that a blanket ban to outlaw Bitcoin and crypto would be costly and difficult to enforce.

"We endorse the Financial Stability Board's high-level recommendations for the regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements," a declaration signed by Biden and other leaders of the world's 20 biggest economies, collectively known as the G20.

The new rules would require bitcoin and crypto exchanges and companies to share information on crypto transactions between countries beginning in 2027.

Considering the recent developments at the G20 Summit where leaders signed the Financial Stability Board (FSB) and International Monetary Fund (IMF)'s recommended crypto cross-border cooperation and information sharing initiative, BTC Markets recognises the significance of these actions and the potential impact on the cryptocurrency industry.

In our submission to the International Organization of Securities Commissions (IOSCO), BTC Markets emphasised our commitment to the protection of clients, the importance of fair, efficient, and transparent markets, and the necessity of reducing systemic risk. We firmly believe that appropriate and proportionate industry regulation is essential, as it not only safeguards clients but also ensures that markets operate with integrity and transparency.

The IOSCO approach, which focuses on regulating the actions and activities of crypto asset service providers (CASPs), aligns with our vision. This functional approach is pragmatic, given the diverse and evolving nature of the cryptocurrency landscape. It allows for tailored regulatory measures that can adapt to the specific needs of the industry while upholding high standards of safety and quality.

It is crucial to highlight that there is a significant overlap between the recommendations put forth by IOSCO and those of the FSB and IMF. Both advocate for a functional approach to regulation, emphasising the need to regulate entities separately based on their activities, such as trading and custody. These international bodies are effectively providing a blueprint for what cryptocurrency regulations should entail globally.

However, one of the key challenges facing the cryptocurrency industry in Australia, is the delay in implementing these recommendations at a national level. While international organisations are setting the framework for a harmonised regulatory environment, it is imperative that governments and regulatory authorities act promptly to translate these guidelines into actionable regulations. Delayed implementation could hinder the industry's growth, create uncertainty, and potentially leave investors and consumers exposed to risks.

Compliance conversations

Protecting your crypto from the dangers of phishing scams.

In the fast-paced world of cryptocurrencies, where digital assets are bought, sold, and stored online, security is paramount. While blockchain technology offers robust security features, users must remain vigilant against an insidious threat: phishing scams.

These scams involve fake emails, websites, or messages that mimic legitimate sources, tricking unsuspecting users into revealing their private keys and enabling scammers to gain access to their crypto wallets. In this article, we'll explore the dangers of phishing scams and provide valuable tips on how to protect your cryptocurrency holdings.

Understanding phishing scams.

Phishing scams are a form of cybercrime where scammers impersonate trusted entities to deceive individuals into disclosing sensitive information. In the cryptocurrency world, these scams target the private keys or login credentials that provide access to digital wallets. Here's how they work:

  • Fake emails: Scammers send emails that appear to be from reputable cryptocurrency exchanges, wallet providers, or other trusted sources. These emails often contain alarming messages, such as security breaches or account suspensions, designed to evoke a sense of urgency.
  • Mimicking legitimate sources: The fraudulent emails and websites closely mimic the branding, design, and language of the legitimate sources they impersonate, making it challenging to distinguish them from the real thing.
  • Coercion: Phishing emails typically contain links that lead to fake login pages. Users who click on these links are prompted to enter their private keys or login credentials. Scammers may also use social engineering tactics to manipulate users into sharing this information willingly.
  • Theft: Once scammers obtain private keys or login credentials, they can gain access to users' cryptocurrency wallets, enabling them to steal funds.

Protecting yourself against phishing scams.

Given the sophistication of phishing scams, it's crucial to adopt a cautious approach to online interactions in the crypto world. Here are some essential tips to help you stay safe:

  • Verify email sources: Always scrutinise the sender's email address. Legitimate sources will use official domain names, not suspicious or misspelled variations.
  • Beware of urgent messages: Be cautious when you receive emails or messages urging immediate action. Scammers often use urgency to pressure victims into making hasty decisions.
  • Hover before you click: Hover your mouse cursor over any links in emails or messages to see the actual URL. Ensure it matches the official website's address.
  • Never share private keys: Your private keys should remain private. Legitimate sources will never ask you to share them via email, chat, or any other means.
  • Use Two-Factor Authentication (2FA): Enable 2FA on your cryptocurrency exchange and wallet accounts. This adds an extra layer of security, even if scammers obtain your login credentials.
  • Bookmark official websites: Avoid searching for cryptocurrency exchange websites online. Instead, bookmark the official websites and use those bookmarks to access the platforms directly.
  • Educate yourself: Stay informed about the latest phishing techniques and scams. The more you know, the better prepared you'll be to recognise and avoid them.
  • Report suspicious activity: If you receive a phishing email or come across a suspicious website, report it to the cryptocurrency exchange or relevant authorities.

Phishing scams represent a significant threat to cryptocurrency users, but with awareness and caution, you can protect your digital assets. Remember that unsolicited messages and urgent requests should raise red flags, and always verify the authenticity of links and addresses before taking any action. By following these precautions, you can keep your cryptocurrency investments safe and enjoy the benefits of this exciting digital ecosystem with peace of mind.

ASIC provides a checklist of common scams and ways to avoid them. To learn more, visit ASIC’s website.

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Prices are accurate as of 10:00 AM AEST, on 14/09/2023.

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