Australia cancels GetCoins registration after scam complaints
GetCoins registration cancelled
Australia’s financial‑intelligence regulator AUSTRAC announced that the virtual‑asset service provider GetCoins, officially BA Digital Ventures Pty Ltd, had its registration cancelled on 4 June 2026. The action follows complaints from customers who said they were targeted by cryptocurrency investment scams.
Key points
- AUSTRAC cancelled GetCoins’ registration on 4 June 2026.
- The regulator linked the cancellation to alleged organized crypto investment scams.
- AUSTRAC worked with the National Anti‑Scam Centre after receiving customer complaints.
- No criminal finding against GetCoins was disclosed, and no amount was reported as recovered for affected customers.
- Loss of registration removes GetCoins’ legal permission to provide crypto‑exchange or wallet services.
AUSTRAC statement
AUSTRAC’s public disclosure on 7 September 2026 said the agency had removed GetCoins from its register and that the provider was “exploited by organized cryptocurrency investment scams.” The regulator said it had requested information from GetCoins to assess money‑laundering risks and that the cancellation helped disrupt the scam activity.
What is confirmed
- GetCoins’ registration was cancelled on 4 June 2026.
- The cancellation was announced as part of AUSTRAC’s annual review of 45 remittance and virtual‑asset providers.
- AUSTRAC collaborated with the National Anti‑Scam Centre after customer complaints.
- AUSTRAC did not find evidence that GetCoins itself organized the scams.
Unclear aspects
- The exact number of customers affected and the total financial loss have not been disclosed.
- No criminal charges or formal findings against GetCoins have been reported.
Why it matters
Without a valid registration, GetCoins can no longer legally operate as a crypto‑exchange or wallet provider in Australia. This protects the market from firms that may be unable to manage money‑laundering or fraud risks, and it signals to other providers the importance of complying with AUSTRAC’s registration requirements.
