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Scam Watch

How can you recognize Social media investment scam — fake celebrity / influencer endorsements?

TLDR

Scammer runs Meta/X/TikTok ads using deepfake video of Elon Musk, Cathie Wood, Warren Buffett or local celebrity 'endorsing' a crypto or stock platform. FTC reports $5.7B investment fraud losses in 2024 (+24% YoY), with social media the 1...

How it works

Scammer runs Meta/X/TikTok ads using deepfake video of Elon Musk, Cathie Wood, Warren Buffett or local celebrity 'endorsing' a crypto or stock platform. FTC reports $5.7B investment fraud losses in 2024 (+24% YoY), with social media the 1...

Red flags

  • Urgent pressure to click, pay, or share codes immediately.
  • A link or sender that does not match the official organization.
  • Requests for card data, passwords, OTPs, wallet signatures, or bank transfers.

What to do

  1. 1FTC reports $5.7B investment fraud losses in 2024 (+24% YoY), with social media the 1 contact channel ($1.9B losses).
  2. 2WHAT TO DO: verify advisor on SEC IAPD or FINRA BrokerCheck, screenshot the ad and reverse image search, never invest on a platform you found from an ad.
  3. 3IF VICTIM: report to ReportFraud.ftc.gov, ic3.gov, SEC tips, request chargeback on credit card under Reg E.

Source

FTC

Source reviewed by Mythos Forensic Team

https://www.ftc.gov/news-events/news/press-releases/2025/03/new-ftc-data-show-big-jump-reported-losses-fraud-125-billion-2024

FAQ

Is Social media investment scam — fake celebrity / influencer endorsements a real scam pattern?

Yes. Treat the message, call, or payment request as suspicious until you verify it through an official channel.

What are the first warning signs?

Urgent pressure to click, pay, or share codes immediately.; A link or sender that does not match the official organization.; Requests for card data, passwords, OTPs, wallet signatures, or bank transfers.

What should I do first?

FTC reports $5.7B investment fraud losses in 2024 (+24% YoY), with social media the 1 contact channel ($1.9B losses).; WHAT TO DO: verify advisor on SEC IAPD or FINRA BrokerCheck, screenshot the ad and reverse image search, never invest on a platform you found from an ad.; IF VICTIM: report to ReportFraud.ftc.gov, ic3.gov, SEC tips, request chargeback on credit card under Reg E.

Can LegalAudit check my case?

Yes. Start a free chat and paste the message, link, sender, or payment details for triage.