LinkedIn – The FBI warns of the “significant threat” of crypto scams – CryptoActu

It’s not just a bear market that’s going to stop scammers of all stripes in the cryptocurrency industry. And social networks are a particularly privileged hunting ground in the context of this type of operation. This despite the very often very relative “management” displayed by some of them, vis-à-vis this digital pollution at the origin of sometimes colossal losses. With, as the last incriminated platform, the professional version LinkedIn. And a warning issued by the FBI against him.

Social media security is a complicated issue. And a reality that has just put a spoke in the wheel of the takeover of Twitter, yet envisaged by the whimsical Elon Musk. This about the estimate – considered to be very largely underestimated – of the number of fake accounts that pollute this very popular social network. And by correlation, potential scams that hit its users, especially in relation to cryptocurrencies.

A scourge that particularly strikes holders of NFT tokens. But whose forms are as variable as the imagination of their malevolent instigators. Because on the LinkedIn network, it is sound financial advice that then turns into emptying of wallets. To the point of having prompted the FBI to mention it as a “significant threat” to its users. In any case, this is what Sean Ragan, special agent in charge of the field offices in San Francisco and Sacramento, California, indicates.

LinkedIn – The “significant threat” of crypto scams

The fact is to be taken into account once and for all: being identified as a crypto investor often means sticking a digital target on your forehead. And while this shouldn’t trigger undue panic, this reality does mean taking the necessary steps, at least from a digital hygiene perspective. This especially following the repeated data leaks, one of the most significant of which remains that of the company Ledger in 2020. And mainly on social networks, the privileged playground of scammers of all kinds.


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A curse that unfortunately does not spare the LinkedIn network, yet dedicated to more professional relationships. In any case, this is what the FBI has just declared, through the voice of its special agent Sean Ragan. This about a worrying proliferation in the number of fake profiles created on this platform. And even though the company claims to have deleted more than 32 million last year. And have intercepted at the same time 99.1% of the 70.8 million spam and scams on its social network. All of this detailed in a blog post published yesterday, about this visibly increasing problem.

Beware and remember to report people who ask you for money and whom you do not know personally. This may include people asking you to send them money, cryptocurrency, or gift cards to receive a loan, prize, or other winnings.


LinkedIn – Scams by breach of trust

And the procedure is just as well established as it is specially adapted to LinkedIn. Because, as the victims of these scams claim, this involves setting up a breach of trust over time. All made possible by the professional nature and dedicated to networking of this social platform. That is to say, by taking advantage of the implicit – but clearly overestimated – confidence linked to these characteristics considered as proof of legitimacy. And scammers pretending to be professionals by giving sound advice before taking the step of stealing digital funds (or others) of their victims.

This is how criminals make money. This is what they focus their time and attention on. And they are always thinking of new ways to make new victims, whether individuals or companies.

Sean Ragan

A breach of trust attack that can take time, to the point of being set up over several months. And go through stages of effective gains, just to establish a necessary degree of confidence. But, as a general rule, a conclusion that always finds more or less the same outcome. That is to say the transfer of cryptocurrencies to a platform that is first of all legitimate. And at some point, the “need” to transfer them to another site, this time controlled by the fraudster. Moment when the funds will be diverted and lost forever, for the benefit of this adviser who at the same time has become untraceable. This for the benefit of fraudsters that the Global Anti-Scam Organization has traced in most cases to Southeast Asia. What a surprise !

Take care !

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LinkedIn – The FBI warns of the “significant threat” of crypto scams – CryptoActu

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