In recent times, cybersecurity experts at Proofpoint have identified a surge in online job scams that specifically target financially vulnerable individuals. This new tactic, known as “job scamming,” is reminiscent of the existing “pig butchering” fraud model but has a wider reach as it preys on job seekers seeking remote and flexible work opportunities.
Unlike pig butchering scams that typically target individuals with significant investment funds, these job scams aim for smaller but quicker payouts from financially struggling targets. Proofpoint’s analysis has revealed that these scams are initiated through messaging apps and social media platforms, where fraudsters masquerade as recruiters offering enticing remote job opportunities in various industries like music streaming, product reviews, and hotel ratings.
The scam unfolds as victims are prompted to register on a fake job portal with the promise of simple, paid tasks. Once registered, the victim is required to complete numerous “job” actions, such as product ratings or music reviews, before encountering technical issues that prevent task completion and leave them with a negative account balance.
To rectify the balance, scammers persuade the victim to make a deposit, claiming that it will unlock high earning potential. Unfortunately, this process repeats, with victims often losing hundreds or thousands of dollars to these fake platforms. The use of social proof in these scams further solidifies the illusion of legitimacy, as group chats on platforms like Telegram or WhatsApp showcase other “workers” (typically the scammers) sharing success stories to increase pressure on victims.
According to Proofpoint, these fake job schemes have proven to be extremely profitable, with some scams raking in over $300,000 in Bitcoin and Ethereum in just a few months. Analysis by blockchain company Chainalysis has confirmed that funds deposited into these scam platforms often flow into larger fraud networks.
Key findings from the report include the impersonation of legitimate brands like Temu, TikTok, and the Hotel Association of Canada by fake websites, the maintenance of high engagement levels with victims to reinforce commitment to the “job,” and the rapid accumulation of funds by fraudsters through cryptocurrency wallet analysis in short time frames.
As a precautionary measure, Proofpoint advises individuals to exercise caution when receiving unsolicited job offers on any platform and to be wary of requests for payment under any pretext. Stay vigilant and protect yourself from falling victim to these online job scams.