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Crypto Scammers on LinkedIn Pose Big Threat to Users, Says FBI


beincrypto.com 18 June 2022 12:00, UTC
Reading time: ~2 m

The Federal Bureau of Investigation has warned LinkedIn users to be wary of crypto scammers, saying that these malicious players present a huge threat to the social media platform.

Speaking on behalf of the law enforcement agency, its special agent in charge of the San Francisco and Sacramento, California field offices, Sean Regan, noted that numerous users have already fallen victim to those scammers. 

LinkedIn users already falling victim

This type of fraudulent activity is significant. There are many potential victims, and there are many past and current victims.

Regan continued that the growing rate of these crypto investment scams has contributed to the rising number of investment-related frauds recorded by the FBI. 

They are always thinking about different ways to victimize people, victimize companies.

He noted that scammers invest a lot of time in researching their claims, defining their goals, and their strategies. He also added that they deploy tools and tactics that are always predetermined. 

A report by the Federal Trade Commission indicates that crypto traders in the United States have lost roughly $575 million between January 2021 and Marcy 2022 due to falling victims to investment fraud. 

Owned by Microsoft, LinkedIn has roughly 830 million users across the globe, making it one of the largest social media companies in the world. The platform is generally referred to as Facebook for the corporate world.

LinkedIn Says it is Working With the FBI

The social media company itself has confirmed this dangerous trend. 

According to the company’s director of trust, privacy, and equity, Oscar Rodriguez, there has truly been a recent uptick in fraud on its platform.

Rodriguez said the company has started working with the FBI to identify fraud-related scammers who exploit the job-seeking nature of many LinkedIn users

 LinkedIn said

We work every day to keep our members safe, and this includes investing in automated and manual defenses to detect and address fake accounts, false information, and suspected fraud.

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