Job offer rescinded due to cryptocurrency trading


#1

500+ days since COE.

I recently received a letter in the mail stating the following:

"Dear Mr. X:

This letter is in reference to your application for employment. We have determined that we can no longer continue your processing and hereby rescind our conditional offer of employment. This determination was based on information that you provided us or was otherwise obtained during your pre-employment processing. There is no appeal regarding this decision.

Please note that this letter does not represent a security clearance denial for a national security position. When filling out future national security questionnaires - standard form 86 application forms and related documents, you should note that you were not denied a security clearance for this application."

The only new piece of information I provided them was late last year and it was that I hold crypto as an investment.

This position was with an IC agency.

Beware future security clearance holders.


#2

I’m gonna go out on a limb here and say that’s probably not the cause of the decision. They must have found something in a background check that they may have found you unsuitable for a clearance. Just a guess.


#3

Sucks man. Especially after waiting so long. As I believe I’m waiting on the same agency, they also supposedly can issue ‘suitability denials’ as a blanket way of reducing the pool of cleared people coming in if they gave out too many CoEs.

This is what I fear happening to me as well - looking for that FedEx envelope with the bad news waiting in front of my place daily.


#4

That can not be possible because my BI and Poly were completed six months prior to the job offer being rescinded. The only piece of information that was provided after the BI and poly was the cryptocurrency. Im just deducing.


#5

That’s very odd. I’m sorry that happened so far into the process. I’d definitely get with the company to find out the exact reason why so it doesn’t happen again elsewhere. Good luck!


#6

“This is what I fear happening to me as well - looking for that FedEx envelope with the bad news waiting in front of my place daily.”

This. As I work from home a couple days per week, I dread any knock on the door. Does anyone know if it is ‘signature required’?


#7

I am truly sorry to hear about this. I will say that any information you offer them, regardless of whether it was before, during, or after your poly and BI, can be used during the adjudication stage. Myself and others from various forums have been trying to piece together what factors this particular agency might use to deem an applicant unsuitable that other IC orgs might deem more innocuous — foreign influence seems to be a recurring theme for those receiving suitability denials from this particular agency. Additionally, this agency seems to be less flexible with anyone with a history of mental and/or general health issues. Now that cryptocurrency is so prevalent, that might be a factor as well.

Again, sorry to hear this. It’s especially frustrating considering the shear amount of time and effort put into getting this far into the process only to receive a vague letter that only leaves you guessing at what might have dinged you.


#8

The government is concerned with not being able to track sums of money. Espionage pays well, but the retirement or exit plan isn’t too attractive. Was the note from the clearance division of the client or solely from the FSO of the company? Whatever actions you take, keep that letter for future reference should you apply for a cleared position. Understanding if the company parted ways or the client is key. It reads like it was from the company, perhaps they were uncomfortable with the crypto information? In a case such as that I submit and let Poly decide. You either innocently trade and invest or not. However, this may be a form letter submitted to all people the company no longer wishes to pursue for various reasons and they deliberately structure the letter in a manner to make it look like a government denial. Ish. Even though they say it isn’t. They may have been hiring for 4 positions, and you were number 5 in the system to clear. Companies often submit multiple people expecting many denials.


#9

All of mine have never required a signature and were left, but I haven’t gotten a denial yet.


#10

Hi, sorry if I missed earlier reference, but which IC agency are you referring to here?


#11

Trading in “untraceable” currencies often used to make international and illegal payments certainly opens you up to the accusation that you may be trying to hide money. The IRS hasn’t even decided on how this should be reported (during the last tax season they introduced conflicting policies).

I can see it being seen as a potential problem.