Saturday, July 20, 2024

Crypto fraud activity high on LinkedIn, warns FBI.

FBI Special Agent Sean Ragan has warned about cryptocurrency investment scammers on LinkedIn. He revealed that fraudsters are exploiting LinkedIn to lure users into crypto investment schemes. Ragan said this is a significant threat to the platform and consumers. He believes there are many potential victims as well as many past and current victims.

Ragan pointed out that the fraudster usually poses as a professional, creates a fake profile, and reaches out to a LinkedIn user. He or she starts with small talks over LinkedIn messaging and offers to help the victim make money via crypto investment. Users often believe the investments are legitimate as LinkedIn is a trusted platform for business networking. The fraudster guides the victim to a legitimate investment platform for crypto. He or she gains the victim’s trust over several months of communication and eventually tells him to move the investment to a site controlled by the fraudster.

The special agent says that’s how criminals make money. That’s what they focus their time and attention on. These criminals are always thinking and coming up with different ways to victimize people and companies. They do their homework (research), set out their goals and strategies, and lay the trap. The FBI has recorded an increase in this type of investment fraud. It’s different from a long-running scam wherein the criminal pretends to show a romantic interest in the subject to lure them to part with their money. The FBI has active investigations in such cases.

LinkedIn, in an official statement, confirmed a recent uptick in fraud on its platform. It enforces policies – fraudulent activity, including financial scams is not allowed, which are very clear. The platform works every day to keep its members safe. It includes investing in automated and manual defenses to detect and address fake accounts, false information, and suspected fraud. LinkedIn also works with peer companies and government agencies across the world to keep the platform’s members safe from bad actors.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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