FBI Warns of Scam Crypto Job Ads Linked to Labor Trafficking

The FBI has recently issued a warning regarding a new scam crypto job advertisement that is currently circulating. The warning, released on May 22, cautions both U.S. citizens and individuals residing or traveling abroad to be vigilant and cautious when encountering fraudulent job ads associated with labor trafficking.

According to Cointelegraph’s report, the FBI noted that these deceptive ads are connected to schemes involving international cryptocurrency investment fraud. The victims, as stated in the advertisements, are allegedly subjected to coercion, held against their will, and intimidated into participating in these fraudulent activities.

The primary targets of these scams are reported to be individuals in Asia. The job offers presented in the advertisements range from positions in technology support, call center customer service, to beauty salon technicians. However, upon reaching the foreign destination, job seekers are allegedly coerced into engaging in cryptocurrency investment fraud.

To combat this issue, the FBI has urged victims of such schemes to come forward and report their experiences through an online portal. By doing so, they aim to gather information and take appropriate action against the criminals involved.

In recent years, the FBI has been actively involved in various cases related to cryptocurrency scams and incidents. For example, on May 1, the Detroit Field Office of the FBI, in collaboration with the National Police of Ukraine, conducted authorized operations that resulted in the seizure and shutdown of nine virtual currency exchange services. These services were accused of supporting cybercriminals, and their domains, including 24xbtc.com, 100btc.pro, pridechange.com, trust-exchange.org, and bitcoin24.exchange, among others, were taken down.

Additionally, in April, CertiK, a crypto security and auditing firm, published a report highlighting the exploits and scams that occurred in the crypto industry during the month. The report revealed a total loss of $103.7 million, representing half of all the crypto losses incurred in 2023 so far.

During this same period, a prominent YouTuber known as DidYouKnowGaming fell victim to an ongoing hack that involved the promotion of XRP cryptocurrency scams.

These recent developments highlight the increasing prevalence of cryptocurrency-related scams and emphasize the importance of staying informed and vigilant to protect oneself from falling victim to such fraudulent activities.

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