Crypto scammers are creating fake advertisements on TikTok to lure job seekers and steal their money. One user lost roughly $8,000 in the scam.
The Scam Scheme
The scam came to light after a Leicester man was defrauded of £6,000 (about $7,620) in crypto payments. The fraudsters promised a lucrative job but instead extracted funds from the victim. The incident occurred in early August when the victim saw an ad claiming to offer work with 'no experience needed' on TikTok. He applied for a job titled 'data provider user' with a company called Clickaine, advertised as an international app marketing firm.
Scammer Operations
When the victim contacted the scammers via WhatsApp, they posed as recruiters and offered a monthly salary of up to £4,650 (approximately $5,800) for just an hour of work daily, with payment in USDT cryptocurrency. The victim was asked to open an account with the cryptocurrency exchange Crypto.com. While the job involved completing simple online tasks, the unusual requirement was that the victim make cryptocurrency payments before each task. The scammers provided a specific wallet address to send the deposits, which were to be refunded along with a commission upon task completion.
Safety Measures
Initially, the victim received the promised returns and commissions, creating a false sense of security. However, the deposit amounts escalated to as high as £8,000, and the larger deposits were not returned. After sharing his experience on TikTok, the victim was contacted by others reporting similar experiences, indicating the scam was widespread. Despite TikTok's guidelines prohibiting such fraudulent activities, scammers continue to prey on unsuspecting users. Such bogus ads also appear on platforms like Facebook and X.
These incidents underscore the importance of vigilance and verifying information before making any financial transactions. Social media platforms remain popular for scammers, necessitating heightened caution among users.
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