Crypto Criminals Part 1: A LinkedIn Connection Gone Wrong
The Perfect Scam
AARP
4.5 • 980 Ratings
🗓️ 22 July 2022
⏱️ 35 minutes
🧾️ Download transcript
Summary
The first part of our special report delves into one cryptocurrency scam. Mei Mei, who is looking for her dream job, starts building her professional network on LinkedIn. When one of her connections invites her to invest in cryptocurrency, she is cautious, doing her research on the company and making only a small initial investment. When it pays off, her confidence grows and she decides to invest a significant amount of money, with devastating results.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | This week on the perfect scam. |
| 0:02.0 | He starts like, you know, I should start a little bit beside business, maybe make my life a little easier. |
| 0:09.0 | Had you heard of cryptocurrency before that? |
| 0:12.0 | Before that I did not. |
| 0:13.6 | Once that cryptocurrency is sent, |
| 0:16.2 | you know, there's no way to get it back. |
| 0:18.9 | It's just a perfect payment mechanism |
| 0:21.2 | for, you know, people who want to do bad things. |
| 0:25.0 | It's very hard, I think, for a lot of consumers to kind of differentiate between legitimate |
| 0:29.1 | cryptocurrency companies and exchanges and illegitimate ones. |
| 0:33.0 | Cryptocurrency scams are skyrocketing, |
| 0:39.0 | so fast that consumer reported losses in 2021 were 60 times what they were in 2018. |
| 0:47.0 | 60 times. |
| 0:49.1 | The Federal Trade Commission recently reported that crypto is now tops among payment methods used by victims who report a scam |
| 0:57.0 | more than gift cards, cash, credit cards, or any other payment tool. |
| 1:01.0 | And the FTC says social media and crypto are a combustible |
| 1:06.0 | combination so we're interrupting our normal set of episodes here at the |
| 1:11.2 | perfect scam to bring you a special report on this very new, very 21st century |
| 1:17.5 | crime. Most of you had probably never heard of Bitcoin or other cryptocurrency just a couple of years ago. Now, crypto seems to be everywhere. You probably remember those Super Bowl crypto ads. |
| 1:31.0 | These mere mortals, just like you and me, as they peer over the edge, they calm |
| 1:40.0 | their minds and steal their nerves, the four simple words that have been whispered by the intrepid |
| 1:48.7 | since the time of the Romans, fortune favors the brave. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from AARP, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of AARP and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.