Bitcoin recruitment scams involve hackers interested in Bitcoin who have devised an innovative and amazing new technique. Through this method, they can access victims’ electronic devices and steal money. They pose as recruiters from reputable bitcoin organizations and offer substantial compensation for their services, aiming to deceive potential employees.
Taylor Monahan, an investigator who specializes in blockchain technology, said that the persons responsible for the assaults coerce victims into falling into their trap by creating adverts for professions that promise incomes ranging from $200,000 to $350,000. The conclusions that Monahan has reached are based on his research. Monahan asserts that the advertisements intentionally target potential victims.
Malware vs. Phishing Tactics
Phishing spreads, unlike viruses. Fraudsters interview victims over the phone using multiple microphones or cameras. Texting fraudsters seek “Willo | Video Interviewing.” Clearing the cache and restarting Chrome “fixes” it. “Fix” may steal crypto wallets and backdoors. Monahan claimed the virus affects Mac, Windows, and Linux globally. E. “If you follow their instructions, they will compromise you.”
They post fake Gemini and Kraken business development manager, analyst, and researcher jobs on LinkedIn, freelancing sites, Discord, and Telegram for Southeast Asian-Latin American trading. They prioritize trust over virality. Monahan recommends victims delete compromised PCs to avoid exploitation. Avoid misprep.
Hack-Driven Crypto Losses
Hacks and scams reportedly cost the Cryptoo business $1.49 billion in 2024, a 17% decrease from 2023. Blockchain security platform Immunefi did a study that found that hacks caused 98.1% of all losses ($1.47 billion) and were the biggest cause of the lost money. Only 1.9% of the losses, or $28 million, were due to fraud like scams and rug pulls. But this loss increased by 72% from one year to the next. The general amount of Crypto loss went down because security got better.
The number of attacks that worked dropped from 320 in 2023 to 232 in 2024, a 27.5% drop. In May, a Japanese exchange named DMM lost $305 million due to the theft of a secret key. In July, thieves broke into India’s biggest cryptocurrency exchange, WazirX, and stole $235 million from its multi-sig Ethereum stash. These two events caused 36% of all losses when added together.
Still, the main targets were decentralized finance (DeFi) protocols, which were to blame for 51.4% of the losses, and controlled finance (CeFi) systems, which were to blame for 48.6%. DeFi lost $726 million last year, 77.5% more than the previous year. Ethereum and Binance Smart Chain were the most frequently hit blockchains. There were 104 attacks on Ethereum, which lost 44% of all chains.
Related: Bitcoin Government Reserves Strategy To Strengthen Hong Kong
Summary
The story discusses a new way hackers are tricking Bitcoin users into accepting their jobs through Bitcoin recruitment scams, where they pretend to be recruiters from legitimate Bitcoin groups and offer excellent pay. According to blockchain investigator Taylor Monahan, individuals encountering phoney job advertisements promising salaries ranging from $200,000 to $350,000 are unwittingly falling into a fraudulent scheme.
Hackers get into people’s devices and steal their Crypto wallets using scams, malware, and fake job interviews. Popular platforms such as LinkedIn, Discord, Telegram, and contract websites propagate these scams. The piece also talks about crypto-related scams and hacks in 2024. It shows that hacks caused $1.49 billion in losses, 17% less than in 2023.
Attacks targeted most decentralized finance (DeFi) methods, resulting in significant losses for CeFi platforms. Two events that stood out were a $305 million theft from the DMM exchange in Japan and a $235 million hack of the WazirX exchange in India. Attacks targeted most Ethereum and Binance Smart Chains, resulting in significant financial losses.
