Crypto Investment Scam Through Social Media Ads — Don't Fall for Fake Returns
You saw an ad on Facebook, Instagram, or YouTube featuring a celebrity endorsing a cryptocurrency investment platform promising guaranteed high returns. The celebrity endorsement is fake, the platform is fraudulent, and any money you invest will be stolen. Crypto scams promoted through social media ads have cost Americans billions.
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How This Scam Works
Critical Risk — Fake Celebrity Crypto Ads Are Stealing Billions
Celebrity-endorsed cryptocurrency ads on social media are almost always scams. The endorsements are fabricated, and any money invested will be stolen.
Note: This scam typically arrives via social media ads, not email. If you received a suspicious email, forward it to check@scam.support for a free risk assessment. For investment scams, report to the FTC — see all reporting agencies.
You see an ad on Facebook, Instagram, YouTube, or TikTok featuring a celebrity endorsing a cryptocurrency investment platform promising guaranteed high returns. The celebrity endorsement is fabricated using deepfake video, fake quotes, or stolen images. The platform is fraudulent — it may show fake gains in your "account" to encourage larger deposits, but any money you invest is stolen and cannot be withdrawn.
According to the FBI's IC3, investment fraud was the costliest crime type reported in 2023, with losses exceeding $4.57 billion. The majority of investment fraud losses involved cryptocurrency. The FTC reported that social media was the most profitable contact method for fraud in 2023, with $1.4 billion in reported losses originating from social media.
Red Flags
- Social media ad features a celebrity endorsing an investment platform
- Promises guaranteed returns — no legitimate investment can guarantee returns
- Platform shows impressive gains but will not let you withdraw
- Pressure to invest more to 'unlock' withdrawals
- The celebrity endorsement is fabricated
What You Should Do
What To Do
- Never invest based on social media ads or celebrity endorsements
- Remember: no legitimate investment guarantees returns
- Verify any investment platform with the SEC (sec.gov) or FINRA (finra.org)
- If you invested, document everything and report immediately
- Contact your bank to try to stop or reverse transfers
Sources
- FBI IC3 — 2023 Internet Crime Report (Investment fraud losses: $4.57 billion)
- FTC Consumer Sentinel Network Data Book 2023