Crypto Job Scam Exposed: OpenAi-etc and the Rise of Scams in Bangladesh
Introduction
Regrettably, I found no available source online to know more about this organization except for those registrations," wrote the complainant. "They are collecting huge amounts of investment from third-world countries in Asia."
The Scam
One of the FTC complaints alleges that over 6,000 people in Bangladesh were potentially impacted by the OpenAi-etc job scam. The ages listed in the FTC complaints range from teenagers to people in their fifties, with locations spread across multiple Bangladesh cities, from Dhaka to Khulna.
The Impact
"My next trading date was 29 August, 2024," wrote another complainant. "I made the trade with my whole amount in the evening. But, suddenly, the OpenAI company vanished. I didn’t withdraw any money but lost both capital and profit. Now, I am in a great economic crisis, as I am a normal school teacher."
Investigation and Response
Niko Felix, a spokesperson for OpenAI, declined to answer questions about whether the startup was previously aware of the "OpenAi-etc" scam, or if they planned to take action against the fraudsters. However, he did share that OpenAI is investigating the matter. The alleged scam website is no longer available online, and WIRED was not able to contact the people behind "OpenAi-etc" prior to publication.
Telegram’s Response
A Telegram spokesperson using the name Remi Vaughn tells WIRED that the company monitors its platform for scams, such as those allegedly carried out by OpenAi-etc, which used the messaging app to communicate with people who believed they were working for the company.
The Nature of the Scam
The usual pattern of a crypto job scam is to trick people into depositing some kind of digital currency into a fake account the victim believes they have control over, until the perpetrator drains it one day without warning. While this specific rug pull used OpenAI’s branding to allegedly dupe its victims, a crypto job scam can happen with the name of any company that has enough widespread recognition for criminals to capitalize on.
The Art of Social Engineering
"These social engineering scams are designed to lower our natural suspicion and to make us complicit in our own deception," says Arun Vishwanath, a cybersecurity expert and author of The Weakest Link. "For job scams, they try to turn our ambitions and inherent trust in brands into a vulnerability." Similar to so-called pig butchering investment scams, a key component often includes direct messages over a long period of time to cultivate a sense of trust with the targets.
Cultural Factors
Although comparable job scams happen all over the world, Vishwanath believes that Asian cultural norms of so-called high power distance, where there’s more acceptance of interpersonal hierarchies, are a contributing factor. "Authorities are expected to ask you things and make you do things," he says. "And you just comply." Scammers are taking advantage of this by imitating authority figures and leaning into the sense of urgency inherent to searching for a job.
Conclusion
The OpenAi-etc job scam is just one example of a larger trend of job scams targeting individuals in Bangladesh and other countries. As these scams continue to evolve, it’s essential for individuals to remain vigilant and educate themselves on the warning signs of a scam.
FAQs
Q: What is a crypto job scam?
A: A crypto job scam is a type of fraud that tricks people into depositing digital currency into a fake account, often with promises of a job or investment opportunity.
Q: What is the typical pattern of a crypto job scam?
A: The typical pattern involves tricking victims into depositing digital currency into a fake account, with the scammer draining the account at a later time.
Q: What is social engineering in the context of job scams?
A: Social engineering is the process of manipulating individuals into divulging confidential information or performing certain actions, often through targeted messages and building trust over time.
Q: What is the role of cultural factors in job scams?
A: Cultural norms, such as high power distance, can contribute to the success of job scams by making individuals more accepting of authority figures and more likely to comply with requests.
