Crypto Scammers Turn to LinkedIn to Target Victims

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Scams using cryptocurrencies have been reported by the FBI on LinkedIn. The fact that bitcoin frauds may target top executives makes them a serious danger on the social network, according to Sean Ragan, the FBI’s special agent in charge of San Francisco and Sacramento.

Regarding the scam

The frauds operate similarly to how they do on other sites.

Scammers establish convincingly bogus accounts and utilise the built-in messaging tool to try and engage people in discussion.

The con artists first bring customers to an honest investing site in an effort to gain their trust. Before persuading victims to transfer funds to a different cryptocurrency platform that is really run by con artists, they establish a connection with them over a period of months.

The victims’ money vanishes along with the con artists as soon as they transfer it to the phoney website.

Then what?

The FBI mentions the surge in this kind of fraud and makes a comparison to romantic scams. The outcome in both situations is the same: a loss of cash.

According to CNBC, criminals defrauded several individuals on LinkedIn of money ranging from $200,000 to $1.6 million.

LinkedIn is a haven for several types of fraud

The excellent resignation situation is also being used by scammers to approach job seekers on LinkedIn. These frauds, which target victims in North America and the UK, have increased dramatically recently.

In order to get victims’ credentials, they pose as well-known professionals and send them phoney job offers with various subject lines.

You appeared in 4 searches this week, “You appeared in 9 searches this week, You have 1 new message, or Your profile suits this position are a few examples of these topic lines.”

Use LinkedIn with caution

Be wary of requests for connections from someone you don’t know. Be aware of strangers who approach you and ask for money. This might involve giving out cash, crypto currencies, gift cards, and prizes in person. Never click on spam email alerts that seem to be from LinkedIn. Check them directly on LinkedIn as an alternative. Never divulge your banking information or personal information to somebody you don’t know.

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