The Federal Bureau of Investigation is beginning to see a significant increase in the number of scammers operating in the bitcoin sector (FBI). Users of LinkedIn have been urged by the institution to exercise caution. Many people have already fallen victim to scammers on this social network, according to Sean Regan, a special agent in charge of the San Francisco and Sacramento, California, offices.
The methods used by scammers
Scammers are constantly considering new strategies to use to defraud trusting individuals. They spend a lot of time looking for their victims, claims Sean Regan. To do this, they start to lay out the standards for identifying a particular target. The agent claims that they mostly target individuals who already have a strong interest in cryptocurrencies in general.
Scammers use prearranged tools and techniques once they have identified the components that could aid them in finding victims. They use some really successful methods, which is unfortunate. The Federal Trade Commission study, which claims that bitcoin dealers in the United States lost over $575 million between January 2021 and March 2022, is evidence of this. These monies belonged to the con artists’ victims.
The terrain of cryptocurrency fraudsters
Nearly 830 million people use the LinkedIn network globally. As a result, con artists frequent there as a hunting area. The system is compared to Facebook for businesses. It follows that it is not strange when bad-intentioned individuals go there. The social network itself has acknowledged their presence and is making every effort to find them.
According to Oscar Rodriguez, head of trust, privacy, and fairness at LinkedIn, there have been more fraud incidents recently. Nevertheless, the platform collaborates with the FBI to detect con artists and stop them from causing harm to others, even if it is impossible to completely eliminate the possibility of people falling for scams.
Unfortunately, LinkedIn has turned into a haven for fraudsters looking to target cryptocurrency users. The latter flourish there and deliberately seek out victims to steal from. However, LinkedIn declares that it will step up its monitoring and keep working with the FBI.
