Aussie official goes after ASIC over failure to warn about $1.3b HypeVerse scam
Australia’s minister to interrogate the country’s financial regulatory body, questioning why it did not caution consumers about a $1.3 billion crypto scam linked to Australia. In an interview with The Guardian, Australia’s minister for financial services and assistant treasurer Stephen Jones said he is planning to query the Australian Securities and Investments Commission (ASIC) about its failure to issue a consumer warning about HyperVerse (also advertised as HyperFund), a crypto scam which was so big that it reached the U.K., New Zealand, Canada, Germany and Hungary, among others, as early as 2021. Jones emphasized that HyperVerse was peddling “worthless investment products,” resulting in entanglements for numerous Australians. He also openly questioned why a warning wasn’t issued, stating that the operation warranted raised concerns. “I simply don’t know why a warning wasn’t issued. It seemed pretty clear that there should h...