The Federal Trade Commission (FTC) has reported an unprecedented surge in “task scams,” a sophisticated form of online job fraud that has caused significant financial damage in recent years. From zero reported cases in 2020, these scams have escalated dramatically, with 20,000 reports filed in just the first half of 2024, resulting in over $220 million in losses.

The Anatomy of Task Scams
These scams typically begin with unsolicited messages on platforms like WhatsApp, where fraudsters impersonate legitimate companies such as Amazon, Deloitte, and Airbnb. Victims are offered simple tasks like rating products or liking videos, initially receiving small cryptocurrency payments of $50-60 in USDT or Ethereum to establish credibility.

How the Scam Operates:
– Victims complete sets of 40 tasks
– Initial small payments are made to build trust
– Scammers promise increased commissions for task completion
– Victims are eventually required to make deposits to “unlock” earnings
– Deposits and accumulated earnings are stolen

Key Statistics:
– 40% of job scam losses attributed to task scams
– $41 million stolen through task scams (January-June 2024)
– Individual losses reported up to $8,500

Warning Signs:
– Unsolicited job offers
– Cryptocurrency payment requirements
– Terms like “product boosting” and “app optimization”
– Requests for deposits to access earnings
– Promises of easy money for simple online tasks

The FTC emphasizes that legitimate employers never require deposits or payments for employment opportunities, and tasks involving paid likes or ratings are illegal. Cryptocurrency usage in these scams makes fund recovery particularly challenging for victims.