The latest Scamnet report has revealed scammers took almost $12 million from nearly a thousand Western Australians last year.

There was a 500 percent increase in the number of online shoppers who lost money, and investment and romance scams accounted for more than half of the money swindled at a total of $7.5 million.

66-year-old Terry was scammed after clicking on a celebrity-endorsed crypto-coin investment opportunity.

He told 6PR’s Millsy at Midday he lost $50,000 dollars in the sophisticated scam.

“Pressing that button didn’t cost me the earth, but I lost a fair bit of money out of it,” he said

A total of 952 West Australians fell victim to scams last year.

Click play to hear the full interview. 

(Photo: iStock by Getty Images.)