Linkedin scam warning: cyber criminals demand bitcoin ransom in ‘sextortion’ schemes

High net-worth individuals are being found on networking sites like LinkedIn by gangs, who pay criminals more than £250,000 per year to find potential targets for so-called sextortion scams.

A typical example of a sextortion scam can involve forming an online relationship with a married person and then threatening to reveal details of the affair with their partner unless a ransom is paid in bitcoin.

Researchers at cyber security firm Digital Shadows tracked the activity of cybercrime groups over a seven month period between July 2018 and February 2019, revealing the methods used to prey on potential victims.

The gangs are offering annual salaries averaging £276,300 to accomplices who help target high-worth individuals, such as company executives, lawyers and doctors, researchers said. For accomplices with programming skills, these salaries rise to more than £840,000 per year. ..Read More..

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