PANews reported on April 8 that according to Cryptoslate, the Australian Securities and Investments Commission (ASIC) announced on April 7 that the Federal Court had approved its request to close 95 companies related to cryptocurrency scams and pig-killing schemes. These entities were dissolved due to improper behavior and false registration. These companies registered with false information and operated under the guise of providing legitimate services, but in fact they were part of a larger fraud network. Through seemingly professional websites and fake corporate identities, they tricked victims into believing that they were working with reputable companies, and then promoted false investment opportunities in cryptocurrencies, foreign exchange, and commodities.

Although ASIC closes more than 130 fraudulent websites every week, fraud remains stubborn and new frauds emerge in an endless stream. At present, nearly 1,500 claims have been submitted, with losses exceeding US$35 million and victims in 14 countries. The court has appointed joint liquidators to handle the assets and liabilities of these companies. The liquidation results show that only 3 of the 95 companies have assets, totaling only US$33,018, while the total liabilities of 7 companies are as high as US$38,689,419.