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FBI Warns Crypto Fraudsters Are Using LinkedIn To Target Victims

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FBI Warns Crypto fraudsters are using LinkedIn to pursue victims.


The Federal Bureau of Investigation (FBI) has issued a warning to users of LinkedIn to be vigilant against crypto fraudsters, stating that these dishonest players pose a significant risk to the social media network.

According to statements made by an FBI special agent, Sean Ragan, on Friday, cryptocurrency investment con artists on LinkedIn pose a “significant threat” to the safety of users. Ragan expressed his opinion that there is an issue with fraudulent investment opportunities on LinkedIn during an interview with CNBC.

People who have been unemployed for an extended period are the primary targets of most employment scams. These cons obtain personal information through employment applications or resumes posted on job portals such as Indeed and Zip Recruiter by using deceptive yet alluring methods. And yet more cons offer an easy or guaranteed income in exchange for a fee.

According to the research, the fraudsters finally convince their victims to shift their cryptocurrency assets onto a phony website that is managed by the bad actor. Once this occurs, the false website is emptied of all monies.

“It’s not their fault that they were victimized. It’s the perpetrator’s fault. It’s the criminal’s fault. They spend their nights and days thinking about ways to victimize and defraud people. That’s how they make their money through illicit gains. And the people that fall victim to it, they’re victims.” Sean Ragan

LinkedIn has acknowledged the threats which Ragan warns, but the company insists that it will not relax its vigilance in the fight against fraud on its website. The company told CNBC that it will continue to enforce its policies, which state unequivocally that fraudulent activity of any kind, including financial scams, is not permitted on LinkedIn.

They went on to say that they work diligently each day to ensure the safety of their users and that this involves making investments in both automatic and manual defenses in order to identify and handle fraudulent activity, bogus accounts, and inaccurate information.

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Mark Brennan
Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.


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