Daily fraud update: 14th October

Chris Lee

LinkedIn hit by problems with crypto spam

A rise in scam crypto LinkedIn posts has been highlighted by a leading crypto CEO.

Changpeng Zhao, who tweets as CZ Binance after the firm he leads, was responding to a tweet in which someone claimed that there were 1,635 employees of Binance on LinkedIn.

“Scammers impersonating Binance team on LinkedIn: 1,500+”, he said.

He then explained how this was not an accurate reflection of the team sizes.

“Binance actual team size: 600”, he said.

“Binance teams that actually have a profile on LinkedIn: 30”, he added.

It is believed that the main symptom of this rise in crypto fraud on LinkedIn is the rise of fake profiles which cause people to believe that Binance is seeking tokens.

It is understood that scammers have even created a profile for a non-existent senior director for the firm.

According to press reports, LinkedIn says that it uses a range of methods to weed out fake profiles – including both people-powered and automated services.

UNICEF launches new crypto fund

Donations to a major international children’s charity just got a lot easier to make if you’re a crypto user.

UNICEF, which is the UN’s children’s welfare organisation, said that it will launch its own crypto donations pool which will be available to both Bitcoin and Ethereum holders.

In an interesting move, UNICEF does not intend to exchange the crypto deposits for fiat cash.

Part of the reason for the wider decision is believed to be the lower risk of fraud.

There is a widespread concern among many charitable givers that traditional donations run the risk of being used for unintended purposes.

By keeping crypto donations on the blockchain, there may be less chance of this happening.

Grants which are made to recipients will also be made in cryptocurrency.

In a statement, UNICEF’s executive director Henrietta Fore said that this move was “new and exciting”.

“This is a new and exciting venture for UNICEF”, she said.

“If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”

Conferences involving Craig Wright are being boycotted

A man who claimed to be the founder of crypto, Satoshi Nakamoto, is facing a conference boycott.

Craig Wright, who is speaking at the CC Forum on Blockchain, AI and Digital Innovation in London, has been hit in the past by claims that he lied about his status as being Satoshi.

Now, however, some leading figures have said they will refuse to attend the event on the grounds that Wright is allegedly not a reputable figure.

These include Charlie Lee, who set up Litecoin.

He took to Twitter to say: “Many of us made the pledge not to attend a conference that invites faketoshi. Yet you still plan to share the same stage with him. Shame.”

Chris Lee

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