22 Mar 2025

light mode

FBI: Crypto scammers are undermining LinkedIn’s reputation

FBI: Crypto scammers are undermining LinkedIn’s reputation

Many users registered on LinkedIn are facing crypto scams. FBI special agent Sean Ragan reported this to the CNBC channel.

On this page

It’s a significant threat. This type of fraudulent activity is significant, and there are many potential victims, and there are many past and current victims.

Ragan said.

According to the special agent, the attackers register on LinkedIn and, by establishing credibility among users, offer them to invest in cryptocurrency for guaranteed profits.

How do crypto scammers operate on the platform?

Sean Ragan. Source:  https://www.cnbc.com/

Sean Ragan. Source: https://www.cnbc.com/

The schema by which violators act is quite simple and effective at the same time. They create fake profiles and start chatting with other platform users, pretending to be professionals. As communication is established, scammers inform victims about the opportunity to make money by investing in cryptocurrency.

Given LinkedIn users’ specifics and wariness, the first step is a legal crypto investment platform with a good reputation. As the level of trust of the victim increases, the scammer proposes to transfer assets to a resource under his control, where an unauthorized write-off occurs.

Ragan notes that criminals “always think of different ways to victimize people and companies. And they spend their time doing their homework, defining their goals and strategies, as well as their tools and tactics.”

The FBI reports an increase in such financial crimes, while the prevalence of longer-term romantic scams in which the attackers make the victims fall in love with them and force them to give their savings away is decreasing.

To date, many users who have lost large sums because of LinkedIn scams have appealed to law enforcement. A separate group was created for victims who suffered because of the actions of fraudsters on the platform. They meet regularly on ZOOM with the guarantee of complete confidentiality. The losses of the victims range from 200 thousand to 1.6 million dollars.

Sean Ragan emphasizes that the network users are not to blame for what happened. “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”.

LinkedIn warning

Last week, in a blog, the social network LinkedIn warned of the increased activity of crypto scammers. Oscar Rodriguez stated that fraudulent activities are strictly prohibited according to the network’s policy. “96% of detected fake accounts and 99.1% of spam and scams are caught and removed by our automated defenses. We also collaborate with peer companies, policymakers, law enforcement, and government agencies, in efforts to keep you safe”.

LinkedIn representatives are calling for help in the fight against crypto fraud by reporting dubious content or participants who request personal data, information about financial assets, or any other confidential information.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
Metaplanet Appoints Eric Trump as Strategic Advisor Amid Bitcoin Adoption

Metaplanet Appoints Eric Trump as Strategic Advisor Amid Bitcoin Adoption

Metaplanet has named Eric Trump as the first member of its Strategic Advisory Board. The decision aims to strengthen the Japanese company’s presence in the Bitcoin economy and elevate its public brand.

Vlad Vovk
ZachXBT Uncovers Hyperliquid Whale Behind $20M in Illicit Crypto Profits 

ZachXBT Uncovers Hyperliquid Whale Behind $20M in Illicit Crypto Profits 

Blockchain investigator ZachXBT shared an analysis of the alleged identity of a Hyperliquid whale who profited around $20 million through illicit trading activity.

Anahit Avetisyan
US SEC Rules Out Securities Status for Proof-of-Work Mining

US SEC Rules Out Securities Status for Proof-of-Work Mining

According to an official clarification, the SEC has ruled that Proof-of-Work mining processes are exempt from securities oversight.

Dmytro Psevdonimenko
BitMEX and KuCoin Face South Korean Sanctions Over Unlicensed Operations

BitMEX and KuCoin Face South Korean Sanctions Over Unlicensed Operations

As South Korea intensifies its oversight of digital assets, regulators are preparing sanctions against unregistered foreign exchanges lacking VASP certification.

Anton Kryshtal
How Jeremy Allaire Built Circle and Made USDC a Stablecoin Giant

How Jeremy Allaire Built Circle and Made USDC a Stablecoin Giant

On a Friday evening in March 2023, panic gripped the crypto market. USDC, a so-called reliable stablecoin, temporarily lost its dollar peg, dropping below $1.

Ivan Dikalenko
Top Crypto Tweets of the Week: Ripple Case Ended, Solana Ad Debates, & More

Top Crypto Tweets of the Week: Ripple Case Ended, Solana Ad Debates, & More

The long-awaited end of the US SEC vs. Ripple lawsuit, Solana’s controversial ad and the SEC’s crypto roundtable were among the top trending topics on X today.

Anahit Avetisyan
What’s Trending in Crypto Today? Paolo Ardoino on Tether’s Growth, & More

What’s Trending in Crypto Today? Paolo Ardoino on Tether’s Growth, & More

Paolo Ardoino shared stats revealing Tether’s growth in 2024, while key Ethereum figures gather around the table, and Mark ‘Billy’ Zeller analyzes his portfolio performance over the years.

Anahit Avetisyan
What is a Hash Function and Why It’s Essential?

What is a Hash Function and Why It’s Essential?

Learn what a hash function is, how it works, and why it’s vital for data integrity, security, and performance in modern computing and blockchain technology.

The Coinomist
How Many Confirmations for Bitcoin Transactions and Why It Matters

How Many Confirmations for Bitcoin Transactions and Why It Matters

Learn what Bitcoin confirmations are, how many are required for different transactions, and why they matter for security and fraud prevention in the blockchain.

The Coinomist
What is a Check Digit? A Full Explanation

What is a Check Digit? A Full Explanation

Discover what a check digit is, how it’s calculated, and why it matters for data verification. Learn how algorithms like Luhn ensure data integrity across various industries.

The Coinomist
When Was Ethereum Created and How It Transformed Blockchain?

When Was Ethereum Created and How It Transformed Blockchain?

Explore Ethereum’s origins and evolution. Learn how Vitalik Buterin’s vision reshaped blockchain technology, sparking innovations like smart contracts, DeFi, and NFTs.

The Coinomist
How Many Sats in a Bitcoin? Everything You Need to Know

How Many Sats in a Bitcoin? Everything You Need to Know

Learn how many satoshis (sats) make up one Bitcoin and why this divisibility matters. Understand the role of sats in facilitating microtransactions and enhancing Bitcoin’s usability.

The Coinomist
OnyxCoin (XCN): Why This Layer-3 Blockchain Is Gaining Investor Attention

OnyxCoin (XCN): Why This Layer-3 Blockchain Is Gaining Investor Attention

OnyxCoin isn’t just a crypto project—it’s an infrastructure built for the digital age, offering scalable, secure, and low-cost transactions for a globalized economy.

Vlad Vovk
Trump’s “US Crypto Reserve” Plan: A Game Changer or Just Talk?

Trump’s “US Crypto Reserve” Plan: A Game Changer or Just Talk?

It takes just one post from Trump to stir the crypto market. Recently, he announced on Truth Social that the evaluation of a strategic crypto reserve is in progress as part of his broader Trump crypto policy.

Anahit Avetisyan
Trump’s Crypto Tax Plan: Smart Policy or Risky Gamble?

Trump’s Crypto Tax Plan: Smart Policy or Risky Gamble?

There’s been a lot of talk about possible changes to crypto tax policies in the U.S. One of the more controversial ideas floating around is “Trump no tax on crypto.” As Trump adopts a more crypto-friendly stance, major rumors have surfaced that he’s considering a 0% tax on crypto gains.

Anahit Avetisyan
MORE
Surf, Sun & Satoshis: Inside El Zonte, the Bitcoin Beach Town

Surf, Sun & Satoshis: Inside El Zonte, the Bitcoin Beach Town

El Zonte, a scenic coastal town in El Salvador, was once known as a surfer’s paradise. However, with Bitcoin now functioning as everyday currency, the town has earned a new identity as Bitcoin Beach.

The Coinomist
Hidden Gem or Overhyped? Exploring El Salvador Like a Local

Hidden Gem or Overhyped? Exploring El Salvador Like a Local

Your ultimate El Salvador travel guide to a country where BTC is legal tender and cryptocurrency is transforming the way locals live and transact.

The Coinomist
MORE