FBI Reports Recurring Instances of Cryptocurrency Scams on LinkedIn

FBI (The Federal Bureau of Investigation) has reported recurring instances of cryptocurrency scams on LinkedIn baffling the professionals on the website, cautioning them of severe consequences from such ill-practices by the scammers - primarily in the form of monetary loss, leaving users feeling affronted, dejected and unsafe.

Sean Regan, Special Agent at FBI has warned the users to be wary of the exponential increase in the number of cryptocurrency scammers on LinkedIn, who allure the users to invest in fake schemes.

Why LinkedIn Users Must Be Wary of the Cryptocurrency Scammers

According to the American Federal Investigation Bureau (FBI), LinkedIn users must be wary of cryptocurrency investment scammers who have taken advantage of social media sites' popularity. It has been revealed that LinkedIn, the professional networking site, is under threat of having a huge number of cryptocurrency scammers.

According to Special Agent Ragan, who investigates cryptocurrencies in general, and scammers specifically, LinkedIn is a stomping ground for cryptocurrency investment scams. He said that the site is full of fake profiles and company names that are used by scammers looking to steal money from users and investors.

Accessing the Severity of the Situation

The cryptocurrency scammers have recently invaded LinkedIn, with the sharing of cryptocurrency-related scams. For example, one of the latest ones has been a romance scam. The scammer asked users to send payment through Bitcoin to “further help” the victim and get married.

The FBI warns cryptocurrency investors to be wary of fraudulent offers. These individuals lure people into buying cryptocurrencies with promises of high returns and unrealized growth as well as unjustified claims about the technology's legality.

According to a report from Business insider, the majority of LinkedIn users are from the United States, while India and China rank second and third in this regard. The figure comprises a whopping 11 million fake accounts stopped at the time of registration. LinkedIn, also advised its users against sending money to people they have never met or connected with users who have a fake work history.

A LinkedIn blog post warns users against sharing personal details with people they have never met and connected with online users.

About LinkedIn

LinkedIn is the world's largest professional network on the Internet, with over 350 million members in more than 200 countries and territories. The company was founded in 2003 and has a diversified business model with revenue coming from Talent Solutions, Marketing Solutions, Sales Solutions, and Premium Subscriptions products. Headquartered in Silicon Valley, LinkedIn has offices across the globe with more than 830 million members worldwide including executives from every Fortune 500 company. LinkedIn has over 1,000 employees around the globe, working to help members succeed through great content on the platform and by providing employers access to a talent pool of some 10 million professionals actively using LinkedIn.