As crypto adoption increases worldwide, the rate of cryptocurrency crimes has also increased. As a result, the Federal Bureau of Investigation (FBI) recently warned that LinkedIn users should be wary of crypto swindlers who pose a significant threat to the professional social platform.
Sean Ragan, an FBI special agent, stated on Friday that cryptocurrency investment fraudsters on LinkedIn constitute a significant threat to the safety of other innocent users. Ragan noted that there is an increasing number of shady investment opportunities on LinkedIn while speaking with CNBC.
The primary targets are usually long-time unemployed people who can easily fall for employment scams. The fraudsters dubiously access the victims’ personal information through employment applications and resumes on popular job platforms. Then, after contacting the victim, they propose a stable income in exchange for a fee.
According to the research, the fraudsters finally convince their victims to shift their cryptocurrency assets onto a phoney website that the bad actor manages. Once this occurs, the false website is emptied of all monies.
Sean Ragan stated:
“It’s not their fault that they were victimised. It’s the perpetrator’s fault. It’s the criminal’s fault. They spend their nights and days thinking about ways to victimise and defraud people. That’s how they make their money through illicit gains. And the people that fall victim to it, they’re victims.”
LinkedIn to Prevent More Crypto Scams
LinkedIn told CNBC that it would continue to enforce policies to prevent scams, including cryptocurrency-related fraudulent activities of any kind, after taking note of the threat Ragan had outlined. The company further added that it would remain vigilant in its fight against fraud on its platform.
They went on to say that they work each day diligently to ensure the safety of their users and that this involves making investments in both automatic and manual defences to identify and handle fraudulent activity, bogus accounts, and inaccurate information.