The FBI is working closely with LinkedIn to combat crypto-related fraud on the platform.
Why it matters: The FBI has opened investigations, saying scams pose a “significant threat,” a field office agent told CNBC, which first reported the story.
What’s happening: Criminal rings are exploiting people’s trust in LinkedIn as a reliable place for networking.
The big picture: Between January 2021 and March 2022, scammers siphoned $575 million from victims in bogus crypto investment schemes, according to the Federal Trade Commission.
What to watch: “While our defenses catch the vast majority of abusive activity, our members can also help keep LinkedIn safe,” Oscar Rodriguez, LinkedIn’s senior director of trust, privacy and equity, wrote in a blog post.
Our thought bubble, via Axios Crypto’s Brady Dale: Scammers are always finding new ways to build credibility. A part of becoming sophisticated in crypto is learning how to spot these things.
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