Australian ASIC warns of 'multi head scam' threat, court orders closure of 95 suspicious companies

According to an announcement on the official website of the Australian Securities and Investments Commission (ASIC), ASIC has successfully applied to the Federal Court for a ruling to shut down 95 companies suspected of participating in investment and "pig killing" fraud, most of which were registered using false information and defrauded through counterfeit trading platforms. These companies are involved in digital asset, foreign exchange, and commodity investment scams, some of which are registered using stolen identities. ASIC claims that such scams are like "Hydra", cracking down on one that may lead to two more, and still removing over 130 scam websites every week. ASIC calls on the public to be vigilant and prevent online investment and identity fraud risks.