Be Careful When “Financial Consultants” on LinkedIn Offer Crypto Advice

According to CNBC, fraudsters are disguising themselves on LinkedIn to trick users into financial schemes. What may seem like a simple networking conversation could be a tactic to develop trust until the mark is presented with a fraudulent crypto investment opportunity. These fake accounts on LinkedIn often pose as financial consultants. In an interview with CNBC, a group of victims that came forward revealed they had individually lost $100,000 to as much as $1.6 million from such scams.

LinkedIn claims they removed 32 million fake accounts just in 2021 alone. There are several warning signs listed on the site that give examples of a scam message including grammar mistakes, messages that ask for personal information, offers that seem too good to be true and if they are not addressed to you personally.

Sean Ragan, the FBI’s special agent in charge of the San Francisco and Sacramento field offices, said “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.”