The Federal Trade Commission (FTC) warns about the rapid growth of fraudulent schemes related to earnings on simple online conditions. The scams, known as “Task Scams”, promise modest income but require payment for access to larger payments.
In 2020, there were almost no such cases reported. However, last year, the FTC received 5,000 complaints about such schemes. By the first six months of 2024, the number of complaints had increased to 20,000. Financial losses from such fraud between 2020 and 2023 were tripled, with victims losing more than $220 million in the first half of 2024. Nearly $41 million of this amount is associated with Task Scams.
The scheme typically involves scammers reaching out to individuals on messengers or social networks, offering them a chance to earn money by completing simple tasks like watching videos or evaluating goods. They often pose as representatives of well-known companies such as Deloitte, Amazon, or Airbnb, dividing tasks into sets of 40 and promising larger payments as users complete them. Sometimes, they even offer “double tasks” with the promise of even more money.
Initially, the scheme may seem legitimate as users receive small amounts, typically in cryptocurrency like USDT or Ethereum. However, as the account accumulates a significant sum, scammers demand a payment to withdraw earnings or access higher-level tasks. Once a deposit is made, the funds disappear.
Victims have shared their stories on forums, recounting losses of thousands of dollars. In some cases, individuals have reported deposits of thousands of dollars, only to be asked for more money or threatened when they refuse.
Fraudsters also use chat rooms where fake participants discuss their supposed successes, luring new victims into investing money. Many victims liken the experience to gambling, with the allure of a big win keeping them engaged.
FTC advises the public to be cautious, especially when offered opportunities to earn through seemingly simple tasks online. The use of cryptocurrency in these schemes complicates tracking down the criminals, making it important to remain vigilant. Any