crypto investment

Over the last few income years, the ATO has seen some instances of SMSF trustees losing their crypto asset investments. These losses have been caused by: 1.    crypto scams, where trustees were conned into investing their superannuation benefits in a fake crypto exchange; 2.   theft, where fraudsters would hack into trustees’ crypto accounts and steal all their crypto; 3.    collapsed crypto trading platforms, many of which were based overseas; and 4.    lost passwords, resulting in trustees being locked out of their crypto account and being unable to access their crypto. Trustees thinking of investing in crypto need to be aware of the ways that crypto can be lost, including through scams, and how these scams can be avoided. Many crypto […]