Job-Related Cryptocurrency Scams

Generic Job Postings

Job scams are common on websites such as Craigslist and others where people can post job listings. These Craigslist job scammers will frequently post a generic part-time work from home assistant position or something similar.

The “company” will send you funds via check, cash, or direct bank wire, after which they will ask you to withdraw the majority of that in cash and send it back to them or someone else as BTC, allowing you to keep the remainder as your “pay.” The scammers may even present legal documents for the business.

The victim may be asked to, as part of their daily tasks, receive funds from “customers” and convert these to cryptocurrency via ATMs in their name for their “employer”

  • Under no circumstances should you use your personal bank account or cryptocurrency accounts to conduct business on behalf of a company. 
  • Inform local authorities as soon as possible about these requests, as they typically represent illicit proceeds laundering. 
  • Never cash a check from someone you don’t know who wants you to buy Bitcoin or crypto.

International Accounts

A scammer will post an advertisement claiming to work for a foreign company in need of a domestic bank account. They will “hire” you to open a domestic account on their behalf, into which funds will be deposited (supposed revenue for the business). You are then instructed to withdraw some of the funds and send them to the owner via Bitcoin. 

  • Under no circumstances should you open a domestic account on behalf of a foreign company or use your personal account on behalf of any company. 
  • Inform local authorities as soon as possible about these requests, as they typically represent illicit proceeds laundering.

Job Materials and Agency Fees

Someone claims you owe them Bitcoin for “job materials” they purchased for you or to cover application or hiring fees. These costs are strong indicators of fraud, especially when combined with the specific request for any kind of cryptocurrency. The “employer” can say that this is part of some sort of “trust test” to work at the company. 

It could also be a job agency or modeling/talent agency asking you to pay fees in the form of Bitcoin for work they’ve booked you for. 

  • No talent or job agencies should charge you fees in this manner. 
  • These agencies make their money by taking small percentage cuts from the contracts they’ve booked for you, and they only get paid when you do.

Avoiding Job Scams

  • Even for contractors, any job-related expenses should never be paid for with an anonymous and irreversible currency like Bitcoin. 
  • Companies that use cryptocurrency for purchases or other costs will never ask private individuals to obtain it on their behalf. If they do use crypto, they will have their own corporate accounts set up specifically for such purchases. 
  • If the person requesting is working on a contract, it is the contracting company’s responsibility, not a private individual’s, to ensure the contractor’s needs are met. 
  • The vast majority of businesses are opposed to Bitcoin because of its anonymity and irreversibility, which makes proper reconciliation between businesses and their banks difficult.
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