In case you have a tendency to talk to folks you don’t know on LinkedIn, you may want to take extra care. According to a CNBC explain, the company has acknowledged a “recent uptick of fraud on its platform,” and this time the scams contain persuading users to make investments in cryptocurrency. Or now no longer it has been deemed as a “significant threat” by Sean Ragan, the FBI’s special agent in charge of the San Francisco and Sacramento discipline workplaces in California, who spoke to the outlet.

CNBC said the schemes typically began with someone pretending to be a professional and reaching out to LinkedIn users. They’d engage in small talk, offering to assist users make money by means of crypto investments. First, they’d command their targets to head to an actual crypto investment platform, however “after gaining their belief over several months, tells them to chase the investment to a internet website controlled by the fraudster.” Thereafter, the money is “drained from the account.”

According to victims interviewed by CNBC, the fact that they trusted LinkedIn as a platform for networking lent credibility to the investment offers. 

Ragan advised CNBC that “the FBI has viewed an increase in this particular investment fraud,” which the outlet said “is assorted from a long-operating scam by which the criminal pretends to display a romantic hobby within the matter to persuade them to part with their money.”


In a statement published yesterday, LinkedIn encouraged users to explain suspicious profiles. The company’s director of belief, privacy and fairness Oscar Rodriguez advised CNBC that “making an attempt to name what is fake and what is now no longer fake is incredibly now no longer easy.”

LinkedIn’s article urges users to “only connect with folks you realize and belief” and to “be wary of… folks asking you for money who you don’t know in person.” The company added “This can encompass folks asking you to send them money, cryptocurrency, or reward cards to receive a loan, prize, or assorted winnings.”

It also lists “job postings that sound too legal to be honest or that ask you to pay anything upfront” and “romantic messages or gestures, which are now no longer appropriate on our platform” as signs of potential fraud attempts.

The company isn’t absolutely relying on its users reporting suspicious accounts as its only protection against scammers on its platform. “Whereas our defenses catch the vast majority of abusive activity, our contributors can also assist retain LinkedIn safe, trusted, and professional,” Rodriguez wrote within the statement. LinkedIn also reported that “96% of detected fake accounts and 99.1% of spam and scams are caught and eliminated by our automated defenses.”

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