LinkedIn users are frequently the subject of cryptocurrency scams: FBI

According to an FBI agent, LinkedIn's crypto-scammers pose a "serious threat" to user security.

On the Microsoft-owned social network LinkedIn, cryptocurrency scammers are increasingly focusing on job seekers. According to an FBI agent, LinkedIn's crypto-scammers pose a "serious threat" to user security.

According to FBI agent Sean Ragan, who spoke with CNBC, LinkedIn has an issue with investment scams, and cryptocurrency fraudsters are recruiting candidates under the guise of a money-making scheme.

The importance of this kind of scam was stressed by Ragan. Both potential victims and victims in the past and present are numerous.

It's important to note that LinkedIn asserts to have 830 million users across more than 200 nations. According to Ragan, "They are constantly considering new ways to victimise people or businesses." And they devote their free time to doing their homework, formulating their objectives, strategies, and tools and techniques.

This comes just after the Federal Trade Commission (FTC) released a study stating that since the beginning of 2021, over 46,000 customers have reported losing over $1 billion in cryptocurrency frauds. According to the FTC, almost half of those who reported losing digital currency in a scam indicated the fraud began with a social media post, ad, or message.

Scammers are becoming more prevalent on the network, according to a post by Oscar Rodriguez, director of trust, privacy, and equality at LinkedIn. He stated in a blog post that "over the past few months, we've witnessed a spike in fraudulent behaviour happening across the Internet, including here on LinkedIn."

"Be sure to report any content you find on our site that you think might be fraudulent so that our staff can act right away. This includes anybody who requests any kind of sensitive personal data from you, such as the login details for your financial accounts or your LinkedIn account. We also advise you to limit your online interactions to persons you know and trust. We advise you to follow someone instead if you'd like to stay up to date with someone you don't know but who posts stuff that is pertinent to you," he continued.

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