FBI calls cryptocurrency fraud on LinkedIn a “significant threat”

Cryptocurrency scams are on the rise on LinkedIn. The platform refers to some general safety rules.

If you are used to talking to people you don’t know LinkedIn, you should take more precautions today. According to a CNBC report, the company admits to a “recent increase in fraud on its platform” and this time around the scams are often related to investing in cryptocurrencies. For FBI Special Agent Sean Ragan, who is in charge of the San Francisco and Sacramento offices, this is even a “significant threat.”

Cryptocurrency scams are on the rise on LinkedIn

CNBC explains that scams often start with someone claiming to be a professional contacting LinkedIn users. He then offers to help them earn money through cryptocurrency investments. First, it directs them to an existing investment platform, but “after gaining their trust for a few months, it tells them to transfer the funds to a site controlled by the scammer.” And there, the money “disappears from the account”.

According to several victims interviewed by CNBC, trusting the LinkedIn platform has increased the credibility of these investment offers. Sean Ragan said that “the FBI has seen an increase in this type of investment fraud”, very different from the “age-old scam in which the criminal pretends to have a romantic interest in the victim in order to get her to give him money. money.”

The platform refers to some general safety rules

In a statement, LinkedIn encourages users to report suspicious profiles. Head of Trust, Privacy and Equity Oscar Rodriguez said: “Trying to identify what is false and what is not is incredibly difficult.” The platform urges users to “only connect with people you know and trust” and to “be concerned … about people asking you for money you don’t know in person”. The company added that “this includes people asking you to send them money, cryptocurrency or even gift cards to receive a loan, a prize or some other reward.” The release also lists “job postings that look too good to be true or require payment” as well as “romantic messages or approaches, which are not appropriate on our platform” as indicators of potential fraud.

LinkedIn doesn’t rely solely on its users and their referrals to protect itself from scams on its platform. “While our defenses detect the vast majority of abusive activity, our members can also help LinkedIn stay safe, trustworthy and professional,” Oscar Rodriguez wrote in the release. LinkedIn also reports that “96% of fake accounts detected and 99.1% of spam and other scams are discovered and removed by our automated defenses.”

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