Home News Crypto Scams: Now Scammers Using LinkedIn To Target App Developers

Crypto Scams: Now Scammers Using LinkedIn To Target App Developers

December 04, 2018 12:24
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Until now everyone thought that Twitter is the paradise of crypto scammers. Now, however, it’s turning out that scammers have advanced their techniques and extended them to other platforms as well. The result is that Microsoft-owned LinkedIn, the social media platform that is usually known for its professional purposes and high quality users, now seems to be emerging as the next hotbed for crypto scammers.

That’s right. After hijacking Twitter now crypto scammers are expanding their footprint to LinkedIn as well. The modus operandi here is slightly different from that of Twitter – instead of impersonating themselves as famous celebrities on LinkedIn these scammers are posing as employees of major cryptocurrency companies and exchanges. Binance is among the exchanges being targeted by these scammers, and recently Binance CEO Changpeng Zhao went on a tweeting spree to raise awareness about these crooks. He said that less than 10 employees of his exchange have a LinkedIn profile, and a majority of profiles that describe their owner as an employee of Binance are actually scams. And unfortunately, there’re more than 500 such profiles – that is 50x more than the number of Binance employees who actually use LinkedIn. In short, if you’re dealing with someone on LinkedIn who says “working at Binance”, he/she is most probably a scammer.

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The majority of those scammers are pretending to be the members of Binance Listing Team. By pretending like this they can ask app developers to pay a certain amount for ensuring a listing on Binance. However, the reality, according to CZ, is that Binance NEVER contacts any app developer before listing their applications.

CZ also said in his tweet that Binance mails are signed using PGP. All unsigned emails arriving from any sources are scams.

Now it will be interesting to see whether LinkedIn takes action against these scammers or not. Twitter has tried curbing this menace and there has been mass blocking of Twitter accounts by the company to prevent these scammers, but it remains to be seen whether LinkedIn will do any such thing or not.

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)

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