June 18, 2022

Crypto scammers are increasingly targeting LinkedIn users: FBI

Cryptocurrency scammers are now increasingly targeting job-seeking candidates on the Microsoft-owned social network LinkedIn. An FBI agent has informed that crypto-scammers on LinkedIn are a “significant threat” to user safety.

In an interview with CNBC, Sean Ragan, an FBI agent said that LinkedIn has a problem when it comes to investment scams and crypto scammers are luring candidates under the pretext of an investment scheme. “This type of fraudulent activity is significant,” Ragan told. “There are many potential victims, and there are many past and current victims.”

It is worth noting that LinkedIn claims to have 830 million members in more than 200 countries. “They are always thinking about different ways to victimize people, victimize companies,” Ragan told CNBC. “And they spend their time doing their homework, defining their goals and their strategies, and their tools and tactics that they use.”

This comes weeks after a report by the Federal Trade Commission (FTC) said that more than 46,000 people reported losing over $1 billion in cryptocurrency scams since the start of 2021. Nearly half the people who reported losing digital currencies in a scam said it started with an ad, post or a message on a social media platform, according to the FTC.

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Oscar Rodriguez, LinkedIn’s director of the trust, privacy, and equity in a post said that the number of scammers is increasing on the platform.“Over the last few months, we’ve seen a rise in fraudulent activity happening across the Internet, including here on LinkedIn,” he wrote in a blog post.

“If you do encounter any content on our platform you believe could be a scam, be sure to report it so that our team can take action quickly. This includes anyone who asks you for any personal information, including your LinkedIn account credentials, financial account information, or other sensitive personal data. We also encourage you to only connect with people you know and trust. If you’d like to keep up with someone you don’t know but that publishes content that is relevant to you, we encourage you to follow them instead,” he added.

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