The rise of cyberattacks continues to challenge the crypto industry, with hackers constantly updating their tactics. A new wave of scams targeting crypto professionals via LinkedIn has come to light, revealing how these malicious schemes are on the rise.
On December 28, Web3 security expert Taylor Monahan exposed a social media-based scam designed to spread wallet-draining malware. These cybercriminals are recruiters from reputable companies, using professional platforms and tools to build trust and attract victims.
How the LinkedIn Crypto Scam Expands
The attackers start by creating a fake LinkedIn profile that looks credible. They then start casual conversations, claiming to represent well-known companies and offering attractive job opportunities. This tactic often succeeds in engaging even those who are not actively looking for work.
To enhance the illusion, the scammers use legitimate tools such as the Willo Video interview platform, which are often used by established crypto companies. Victims receive detailed job descriptions and interview questions, which add to the feeling of professionalism. They are then asked to record video responses. However, the platform intentionally blocks the camera and microphone, citing technical issues.
At this point, the scam is on the rise. Victims are directed to a “How to fix” link that contains harmful instructions. Following these steps will damage their devices. Once executed, victims unknowingly allow attackers to gain control, possibly draining their crypto wallets.
“If you follow their lead, you're f*ked. They vary depending on whether you are on Mac/Windows/Linux. But once you do, Chrome will prompt you to refresh/restart to 'fix the issue.' It does not solve the issue. He absolutely reigns you in,” Monahan said.
It was unclear how much these scams have stolen from crypto users as of press time. However, this scheme mirrors past events, including a high-profile attack targeting employees of Ginco, a Japanese crypto wallet software company. Hackers reportedly stole $305 million in Bitcoin from the DMM Bitcoin exchange using these social engineering techniques.
The breach, which was investigated by the FBI, Japan's National Police Agency, and the Defense Department's Cyber Crime Center, highlighted the growing risks on platforms such as LinkedIn.
Although LinkedIn has taken significant steps to combat fake accounts, the challenges are still great. In its 2024 fraud report, the platform revealed that more than 80 million fake images were removed in just six months. Automated systems blocked 94.6% of these accounts, either at registration or through proactive restrictions.
Denial
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