Some cryptocurrency critics argue that digital money is a scam across the board. No matter your stance on crypto as a whole, you can’t argue with the fact that the industry is prone to scams.
The Better Business Bureau has issued a warning to job seekers regarding a fake crypto company that has defrauded victims out of thousands of dollars.
One victim told the authorities that he’s lost over $10,000 as a result of the scheme, perpetrated by “Cryptocurity LLC”. The man, Daniel LaSane, told reporters that he saw a job listing for Cryptocurity on Indeed and applied for a career as a bitcoin fund manager.
LaSane explains that the job looked genuine at first. He interviewed with multiple employees of the company, and then was offered a job with a salary of $3,000 after a month, plus a 4% bonus for his orders. “I was kind of just rolling with the punches, felt a little weird, but it was, like all right I’m gonna get through training, and then we’ll see how it goes from there,” LaSane explains.
The company gave LaSane assignments to use the money they deposited into his account to purchase bitcoin. Strangely, he noted, they wanted him to use a “client’s” name, instead of his own when purchasing the digital currency. The company deposited thousands of dollars into his account and instructed him to buy bitcoin on digital exchanges.
LaSane’s bank contacted him a few days later and told him that they’d detected fraudulent activity regarding his account. The bank claimed LaSane owed them over $10,000, an astronomical amount for someone who was looking forward to his first paycheck.
It turns out that the group isn’t a company at all. Instead, it’s a collective of scammers who trick their victims into laundering money for them by turning ill-gotten funds into untraceable cryptocurrencies.
This creates a complicated distance between the scammers and the authorities, allowing them to convert their funds into clean money on digital exchanges. Their victims are left bearing responsibility for the converted funds.
Authorities encourage job seekers on Indeed and other sites to keep their eyes peeled for the red flags of potential fraud. Scammers use legitimate job boards to post their bogus scams. LaSane and other victims like him fall for these dirty tricks every day.
If an employer asks you to purchase something — including cryptocurrency — with money they deposit into your bank account, call the Better Business Bureau right away. That’s a huge red flag that something is wrong.