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<p class="is-style-lead">The Federal Bureau of Investigation (FBI) has issued a warning regarding the rise of labor trafficking connected to cryptocurrency scams. </p>



<p>In a recent report, the FBI highlights the trend of criminals exploiting false job advertisements to lure victims into Southeast Asia-based scam compounds, where they are forced to participate in fraudulent <a href="https://crypto.news/learn/crypto-hardware-wallets-2023-review/">cryptocurrency</a> investment operations.</p>



<p>This emerging form of exploitation is a distressing blend of human trafficking and cryptocurrency fraud.</p>



<h2 class="wp-block-heading" id="new-scams-hit-the-marketplace">New scams hit the marketplace</h2>



<p><a href="https://www.ic3.gov/Media/Y2023/PSA230522" target="_blank" rel="noreferrer noopener">According to the FBI</a>, criminal actors specifically target individuals in Asia, using social media platforms and online employment websites to post deceptive job advertisements. </p>



<p>The offers range from tech support and call center customer service roles to beauty salon technician positions. Prospective employees are promised competitive salaries, attractive benefits, and even paid travel expenses, including room and board. </p>



<p>However, these seemingly lucrative opportunities quickly turn into nightmares for unsuspecting victims.</p>



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<p>Once victims arrive in a foreign country, they are trapped in compounds. The criminals employ various coercive tactics to maintain control over their victims. Confiscation of passports and travel documents eliminate any chance of escape in some cases. </p>



<p>Threats of violence and actual physical harm are used to instill fear and ensure compliance. </p>



<p>Furthermore, the criminals resort to debt bondage, assigning fabricated debts to victims for travel fees and accommodation expenses. This mounting debt serves as a means of control, as victims become trapped in a cycle of exploitation.</p>



<p>The convergence of labor trafficking and cryptocurrency fraud is particularly concerning. Victims are forced to participate in fraudulent cryptocurrency investment schemes, leveraging digital assets&#8217; decentralized and anonymous nature. </p>



<p>This enables criminals to obfuscate the origin of funds, making it exceedingly difficult for law enforcement agencies to trace and recover the proceeds of these illicit activities.</p>



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<p>The FBI&#8217;s alert is a reminder of the need for continued vigilance when seeking employment opportunities, particularly in the crypto markets. </p>



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FBI issues alert on crypto labor trafficking

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