Australia Warns of Scammers Collecting Taxes in Bitcoin

Australia’s official tax authority has warned the public of scammers purporting to be tax agents demanding cryptocurrencies like bitcoin for tax payments

“We became aware of scammers seeking payment in Bitcoin last year. So far, we have seen over $50,000 paid in Bitcoin to scammers claiming fake ATO tax debts.”

The government’s tax agency joins the Australian Competition and Consumer Commission (ACCC), the country’s consumer watchdog, in warning the public of cryptocurrency scams that have sharply increased – a 126% spike in a single week – in Australia last year. The ACCC revealed a total of 1,289 complains related to cryptocurrency scams in 2017 with reported losses totaling AUD $1.2 million.