Watch Out For Crypto Recruitment Scams
Scammers are continually finding ways to target victims in the crypto space. While pump-and-dump and rug-pull schemes are the most known tactics, malicious actors are also leveraging recruitment scams to deceive victims into believing they’ve secured legitimate employment opportunities.
The Rise of Crypto Job Scams
The surge in popularity of cryptocurrencies has created a demand for skilled professionals in various fields, from blockchain development to marketing and finance.
Scammers capitalize on this by posing as legitimate employers, targeting both seasoned professionals and newcomers eager to enter the crypto space.
Take the Coscoin scam as an example of this, where the victim, who previously worked for Nissan, was recruited as a WhatsApp administrator for the app. The victim was promised a large salary and his own office by someone claiming to work for the company. However, less than 2 weeks after leaving his previous company, people using the app started to experience problems withdrawing money. The fraudulent party then ceased all communication with the victim and people trying to withdraw their money.
Common Tactics Employed by Scammers
Fake Job Listings: Scammers create enticing job postings on popular platforms, advertising roles with high salaries and flexible conditions. The Coscoin scam is an example of this.
Impersonating Reputable Companies: They mimic well-known crypto companies, using similar names and logos to appear authentic.
Phishing Websites: Victims are often directed to fake websites that closely resemble legitimate ones, tricking them into providing sensitive information.
What should you look out for?
If you are a job seeker and interested in a job in the crypto space, it’s important to look out for certain red flags when looking for work.
First, remember this simple saying — if it’s too good to be true, it probably is. Make sure to be cautious of jobs that promise exceptionally high salaries and benefits.
Next, be sceptical of jobs that use urgency and pressure. Many scammers in the crypto space use the classic FOMO technique to pressure victims into acting quickly before they miss out on an “amazing opportunity”.
And finally, be aware of unprofessional communication. For example, not providing a legitimate employment contract, poor grammar, misspellings and not using an official company email address.
Protecting Yourself from Crypto Job Scams
Research Employers Thoroughly: Verify the legitimacy of the company by checking their official website, social media profiles, and online reviews.
Beware of Unsolicited Offers: Be cautious if you receive job offers without applying, especially if they come via email or social media.
Use Reputable Job Platforms: Stick to well-known job platforms with verified listings and a history of trustworthiness. If you come across a scam on them, make sure to report it.
As the crypto industry continues to evolve, so do the strategies of scammers. By staying informed, conducting thorough research, and being cautious, you can protect yourself and contribute to a safer crypto community.
