Deribit Raises Concerns on Growing Job Scams Impersonating Professionals in Crypto Industry
Cryptocurrency exchange Deribit issued a warning on Wednesday about an increasing number of job scams targeting crypto industry professionals, highlighting how scammers impersonate recruiters to steal personal information or demand upfront payments.
Job Scam Surge Targets Crypto Professionals
Anthony Sweeney, the Chief Information Security Officer (CISO) at Deribit, reported seeing more scammers impersonating recruiters from Deribit and other exchanges. He noted that job scams rely on social engineering tactics, which manipulate victims into revealing sensitive information.
Instead of breaching technical systems, scammers exploit human behavior by pretending to represent legitimate companies. The fraudsters lure victims by offering fake positions promising high salaries and benefits. They rely on the assumption that job seekers will keep their applications confidential from their current employers, making it easier to avoid detection. Victims often realize they’ve been scammed only after losing personal information or money.
LinkedIn and Email Phishing Tactics Exploit Job Seekers
Deribit’s CISO detailed how job scams commonly play out. Scammers first create convincing LinkedIn profiles designed to look legitimate. Once victims respond, scammers typically proceed in one of three ways.
First, they might direct victims to complete an online assessment that secretly installs malware on their devices. Second, scammers may conduct fake interviews, extend bogus job offers, and entice targets with perks like discounted company shares, only to demand upfront payments that provide nothing in return. Lastly, they may arrange in-person meetings at fake office locations—such as a fictitious Deribit branch in Los Angeles—and ask victims to bring their work laptops, likely intending to access sensitive corporate data.
Deribit urges job seekers to carefully verify LinkedIn profiles to avoid falling for job scams. Beyond fake job listings, scammers are also using phishing tactics to deceive crypto users. Last week, multiple crypto users reported phishing emails impersonating Coinbase and Gemini, two major U.S.-based trading platforms.
One fraudulent email referenced a class action lawsuit against Coinbase, falsely stating that a court-mandated deadline required users to transfer their funds to a self-custody wallet by April 1, 2025.
Following these reports, Coinbase issued a public warning urging customers not to share their recovery phrases, emphasizing that this information should never be disclosed—even to individuals claiming to represent the company.
Investment Scams Add to Growing Crypto Fraud Threat
Investment scams, similar to job scams, have also become increasingly widespread. Earlier this week, Malaysian authorities reported a surge in crypto-related investment scams, with professionals and senior citizens frequently targeted. One recent incident involved a 74-year-old who lost tens of millions of Malaysian Ringgit (MYR) to a fraudulent crypto investment scheme.
These scams typically lure victims by promoting the purchase of high-value digital assets and falsely promising guaranteed returns. Authorities further warn that phone scams remain prevalent. Scammers often impersonate banks, regulators, or law enforcement, pressuring individuals into revealing sensitive financial details or transferring funds.
In a separate case, Spanish police dismantled a Bitcoin-themed pyramid scheme that defrauded investors of approximately $32.6 million. The fraudsters built a fake investment platform offering multiple Bitcoin investment plans to lure users.
They heavily promoted the scheme across websites and social media, convincing victims to surrender control of their electronic devices for supposed crypto transactions. Whether dealing with employment offers, investment schemes, or suspicious emails, experts recommend verifying sources and avoiding unsolicited financial requests.