FBI warned social media users of new type of cryptocurrency scam

The bureau revealed that on the LinkedIn platform, attackers offer to invest in digital assets by posing as successful traders

18.06.2022 - 10:00

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2 min

What’s new? The Federal Bureau of Investigation (FBI) has warned of fraudulent cryptocurrency schemes being implemented on the LinkedIn platform. According to agent Sean Ragan, the platform’s specialty, which is to find business contacts, can create a false sense of security that is exploited by attackers. For example, cybercriminals often create fake profiles where they claim to be affiliated with official companies or are representatives of successful investors, CNBC reports.

Information on the CNBC website

Details of the fraudulent scheme. Victims interviewed by CNBC note that they trusted the scammers because LinkedIn is considered a reliable platform for business communication.

The attackers initially direct the user to a legitimate cryptocurrency investment platform, and months later, after gaining the victim’s trust, they ask them to transfer the investment to a fraudulent site under their control.

Representatives of LinkedIn acknowledged the increase in cases of financial fraud on the platform and noted that they are 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. However, LinkedIn did not give an estimate of the amount of funds stolen through the platform.

In 2021, the number of advertisements on LinkedIn attracting employees to the crypto industry increased by 395%. Most often, employers were looking for programmers, accountants, human resources, and consulting specialists. The number of job postings that contain the words “bitcoin,” “blockchain,” “Ethereum” and other digital market terms rose sharply.

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