Cases of frauds involving cryptocurrencies have increased in the past few months. Crypto scammers are now also using LinkedIn as a means of fraud. America’s investigative agency FBI has given this information. Crypto scammers are contacting LinkedIn users by posing as professional financial advisors. These users are being offered scam schemes.
A CNBC report quoted FBI Special Agent Sean Ragan as saying that some users crypto The scams have resulted in losses ranging from $2 million to $1.6 million. Ragan said, “It is necessary to stop this type of fraud as there can be many victims of it. Many people have been harmed by this.” In this method of fraud, scammers initially try to gain the trust of LinkedIn users by advising them on investments. After a few months, users are asked to invest in sites run by scammers.
“That’s how criminals make money and that’s what they focus on. They’re always looking for different ways to cheat people,” Ragan said. LinkedIn says there has been an increase in fraud on its platform. This professional platform, owned by the software company Microsoft, was started about 20 years ago. It is used by more than 83 crore users from all over the world. To ensure the safety of users, LinkedIn removed more than 32 million suspicious accounts last year.
LinkedIn Senior Director Oscar Rodriguez has a blog post “To keep our members safe, we invest in manual and automated methods to detect fake accounts, fake information and suspicious scams. We also provide members with more information on how to be vigilant to avoid fraud want.” LinkedIn claimed in a report that it caught about 99.1 percent of spam and scams between July and December last year through automated methods.