LinkedIn Bitcoin Fraudsters Steal Upto $1.6 Million From Victims

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Report reveals how Linkedin customers misplaced $288k to crypto scammer.
The scammer used a decoy by first directing the person to put money into a authentic cryptocurrency change app, crypto.com.
LinkedIn eliminated over 32 million pretend accounts from its platform in 2021.

Mei Mei Soe, a Florida advantages supervisor, misplaced her complete life financial savings of $288,000  to a Bitcoin scammer on LinkedIn. This revelation got here by way of a Client Information and Enterprise Channel (CNBC) report on June 17, 2022.

Soe mentioned somebody who posed as a supervisor at a Los Angeles health firm related along with her final December. She was intrigued by his supply to assist her earn money by displaying her how he makes cash himself from cryptocurrency.

Soe famous the scammer gained her belief over time as they talked. The scammer used a decoy by first directing her to put money into a authentic cryptocurrency change app, crypto.com.

She began with $400, and the fraudster later satisfied her to maneuver her crypto to a web site he managed. Over a number of months, Soe invested with financial institution loans and cash borrowed from pal’s hoping to make use of her earnings to start out a small enterprise. By the point she realized it, the scammer had disappeared.

As soon as I spotted I had been scammed, I attempted to contact him however couldn’t discover him wherever. I work arduous, and each single greenback I save, I work arduous to save lots of. It hurts.

Soe’s expertise, sadly, is a typical occurence. Different victims who selected to stay nameless have losses starting from $200,000 to $1.6 million. They mentioned they by no means thought such malicious intent could possibly be behind a LinkedIn profile.

Nevertheless, LinkedIn cautioned customers about responding or sending cash to folks they don’t know or folks with questionable work historical past. The platform dismissed over 32 million pretend accounts in 2021. Likewise, its automated defenses flagged 11.9 million accounts on the registration level and 127,000 reported pretend profiles.

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