Australia’s corporate regulator is sounding the alarm about a new wave of crypto investment scams targeting retail investors via social media and popular messaging apps such as WhatsApp.

The Australian Securities and Investments Commission (ASIC) warned on 25 May 2026 that scammers are infiltrating “share trading” and “stock tips” group chats to steer victims toward fake crypto-asset trading platforms that display fabricated profits and trades to appear legitimate.

“Any money deposited into these platforms goes straight to the scammers,” ASIC cautioned, adding that victims are further exploited when attempting to withdraw funds, with criminals demanding fraudulent “release fees” that are never returned.

The scam is…