Singapore warns of $11.8M crypto scam via fake job offers

Singapore warns of $11.8M in crypto scam losses from fake job offers. Scammers use malware and social engineering to steal credentials and transfer cryptocurrency.

Singapore authorities have issued several warnings about cryptocurrency scams disguised as job offers, resulting in losses of around $11.8 million. Scammers often pose as recruiters from crypto companies, reaching out to victims via LinkedIn and social media. They use lookalike email domains and conduct video interviews with cameras off, then direct victims to fake websites for technical assessments. During these assessments, victims unknowingly download malware onto company devices. This malware harvests session tokens, enabling attackers to bypass multi-factor authentication and access sensitive accounts, such as Bitbucket code repositories. Attackers can then alter deployment instructions, access internal servers, and steal credentials to facilitate unauthorized cryptocurrency transfers. Authorities have worked with crypto exchanges to block suspicious accounts and transactions. The public is urged to be cautious of unsolicited work-from-home crypto job offers and to verify recruiter identities.