Binance CEO warns about fake employees of the exchange on LinkedIn

According to Changpeng Zhao, there are about 7000 scammers “working” on the social media under the guise of the platform’s representatives

16.08.2022 - 12:45

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2 min

What’s new? Binance CEO Changpeng Zhao has warned that there are 7000 fraudulent profiles on the business social media LinkedIn, whose owners pose as employees of his cryptocurrency exchange. Zhao added that only about 50 pages on LinkedIn belong to his real colleagues. He made this publication in response to a tweet from Ethereum co-founder Vitalik Buterin, who recalled that all accounts with his name on Instagram are fake.

LinkedIn has 7000 profiles of "Binance employees", of which only 50 or so are real. I wished LinkedIn has a feature to let the company verify people. So, many "hey I am responsible for listing" scammers on LinkedIn. Be careful. https://t.co/Qnsl02iQUT— CZ 🔶 Binance (@cz_binance) August 14, 2022

What other statements have been made? According to Zhao, there are many scammers on LinkedIn who swindle money from users by posing as employees of the exchange, supposedly responsible for the listing of new tokens. He added that LinkedIn’s user verification feature would help avoid such situations.

In June, the FBI warned of crypto fraud on LinkedIn. The bureau noted that the platform’s business specialization can create a false sense of security. For example, cybercriminals often create fake profiles where they claim to be affiliated with official companies or are representatives of successful investors.

Representatives of LinkedIn acknowledged the increase in cases of financial fraud on the platform and noted that they were working to improve the mechanisms for automatically detecting and eliminating fake accounts. In addition, the developers removed more than 32 million fake accounts from the platform in 2021.

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