**[ASIC Warns of Fake Crypto Platform Scams Targeting Young Investors]** According to FinanceFeeds, the Australian Securities and Investments Commission (ASIC) has issued a warning that scammers are defrauding retail investors through apps like WhatsApp and fake crypto trading platforms. These scammers often pose as financial professionals or trading communities to lure deposits, using fabricated trading data and demanding "unlocking fees" to steal funds. Some scammers also promote fake "fund recovery services" to carry out secondary scams. Moneysmart data reveals that 23% of Australians aged 18 to 28 own crypto assets, and 72% of Gen Z have encountered crypto advertisements on social media. ASIC advises the public to verify platform credentials and avoid blindly trusting investment advice on social media.