Crypto Criminals Use LinkedIn to Scam People, Moody Warns

By Lydia Nusbaum, Florida's Voice

June 23, 2022 Updated 2:40 PM ET

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June 23, 2022 Updated 2:33 P.M. ET

TALLAHASSEE (FLV) – Florida Attorney General Ashley Moody warned Floridians about scammers using LinkedIn to target potential cryptocurrency investors. 

A recent LinkedIn blog post claims there has been a rise in fraudulent activity on the internet and on the company’s platform. 

One Floridian recently lost more than $280,000—their entire life savings. Users lost more than $1.6 million to cryptocurrency investment schemes using LinkedIn to contact targets, according to recent reports.

“Scammers try to build quick credibility with their targets in order to steal money or obtain personal information,” Moody said. “Once trust is gained, they begin to execute a multifaceted cryptocurrency-investment scheme.”

Many fake LinkedIn accounts are associated with the scheme that started in Southeast Asia.

Moody warned people about the scheme earlier in the year, but issued a new Consumer Alert to make sure Floridians know not to provide financial information to strangers online. 

The person behind the fake LinkedIn account will create small talk with their target. They offer ways to help the victim make money through cryptocurrency. Once the victim is convinced to move the money to a trusted site, the money will be quickly stolen. 

To protect against scams involving professional networking platforms:

-Be wary when interacting with strangers online;

-Use LinkedIn’s reporting features to flag any solicitors who entice with money, prizes and investment opportunities;

-Know that any job opportunities listed on the site that look too good to be true are probably fraudulent; and

-Look out for poor grammar, a lack of profile context and other red flags that could be a tell-tale sign of a scammer.

Earlier this year, Attorney General Moody issued Scams at a Glance: Cryptocurrency Scams. The resource contains information on how to avoid falling victim to crypto-investment schemes. To access the resource, click here.

To report a LinkedIn scam, contact the Florida Attorney General’s Office by calling 1(866) 9NO-SCAM or file a complaint online at MyFloridaLegal.com.

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Florida’s Voice is a patriotic news network that you can trust to deliver the truth with no hidden agenda. Founder and Editor in Chief Brendon Leslie left his job in mainstream news to practice journalism as it should be, unbiased and unbossed.

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