June 9, 2024
Latest Cryptocurrency News

Beware of Job Scams Demanding Crypto Payments, FBI Warns

The United States Federal Bureau of Investigation (FBI) has issued a stark warning about a surge in work-from-home job scams that demand cryptocurrency payments from victims. In a statement released on June 4, the FBI highlighted the tactics used by scammers to lure potential victims into their traps.

These scammers typically reach out with unsolicited calls or messages, offering seemingly simple jobs like rating restaurants or “optimizing” services.

Victims are directed to a fake interface where they believe they are earning money, although they can never actually cash out. The scam culminates when victims are asked to make cryptocurrency payments to “unlock” more work, with the payments going directly to the scammers.

Job Scams: Spotting the Red Flags

The FBI emphasized several warning signs that could indicate a job scam. These include job descriptions that excessively use the term “optimization” and recruitment processes that do not require references.

The rise in such scams comes as remote work becomes increasingly popular, with 28% of the global workforce working from home by the end of 2023, according to Statista. Remote work offers the freedom to work from anywhere, a factor that scammers exploit.

Global percentage of individuals who primarily work from home. Source: Statista

Escalating Crypto Fraud

The warning follows alarming statistics about the rise in crypto-related fraud. On March 9, a FBI report revealed that investment losses involving cryptocurrency. The losses surged from $2.57 billion in 2022 to approximately $3.94 billion in 2023, marking a 53% increase.

Moreover, among the prevalent scams are romance scams. In these schemes, criminals create fake online identities to gain victims’ trust and affection. They then persuade the victims to send cryptocurrency, only to disappear afterward.

As remote work continues to grow, the FBI urges vigilance against job scams requiring cryptocurrency payments. They advise job seekers to thoroughly vet any work-from-home opportunities.

Image by pikisuperstar on Freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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