$12.5B
FTC-reported fraud losses in 2024
FTC says consumers reported losing $12.5 billion to fraud in 2024.
celebrity crypto endorsement deepfake
AI-generated deepfake videos show celebrities apparently endorsing cryptocurrency investment platforms, luring victims into depositing money on fraudulent exchanges that steal their funds.
“deepfake scam”
↑ 495%Key indicators
Usually targetsCrypto investors
Often hitsEducators and students
Common regionUnited States
Last updated2026-04-04
Estimated impact
$1.4K
median reported loss
Typical range$90 – $9.0K
Recovery rate~15%
Scam breakdown
1
Scammers create convincing deepfake videos of well-known figures like Elon Musk or MrBeast promoting a crypto platform.
2
These videos are distributed as paid social media ads targeting users interested in cryptocurrency and investing.
3
Victims deposit funds on the fake exchange, see fabricated profits, and lose everything when they try to withdraw.
What to do first
Verify any celebrity endorsement by checking the person's official social media accounts and website.
Related terms
fake celebrity crypto adAI celebrity investment scamAI deepfake scamsSocial mediaRisingCrypto investorsSocial media usersYoung adultsEducators and studentsInvestors and tradersParents and familiesUnited StatesUnited KingdomAustraliafake celebrity crypto adAI celebrity investment scam
Real-world example
How this scam plays out in practice
Based on reported patterns. Names and details are illustrative.
The setup
Ashley, 32, a crypto investors, encountered what appeared to be a legitimate ai deepfake scams situation while using Social media. Scammers create convincing deepfake videos of well-known figures like Elon Musk or MrBeast promoting a crypto platform.
Step 2
What happened next was calculated: These videos are distributed as paid social media ads targeting users interested in cryptocurrency and investing.
Step 3
The pressure escalated quickly: Victims deposit funds on the fake exchange, see fabricated profits, and lose everything when they try to withdraw.
The outcome
Ashley realized something was wrong when celebrity endorsement video appears only on social media ads, not on the celebrity's official accounts. By that point, significant damage had already been done — money sent, personal information shared, or trust exploited.
The lesson
Verify any celebrity endorsement by checking the person's official social media accounts and website. Ashley's experience shows why celebrity endorsement video appears only on social media ads, not on the celebrity's official accounts and investment platform promises guaranteed returns with no risk are the clearest early warning signs.
How to identify it
- Celebrity endorsement video appears only on social media ads, not on the celebrity's official accounts
- Investment platform promises guaranteed returns with no risk
- The crypto exchange website was recently registered and has no regulatory credentials
- Pause before paying, clicking, or sharing information. Scammers rely on speed.
- Verify the sender, company, or agency using a phone number or website you already know is legitimate.
- Treat secrecy, urgency, and off-platform payment requests as strong scam signals.
What to do now
- ✓Verify any celebrity endorsement by checking the person's official social media accounts and website.
- ✓Never invest through platforms promoted only in social media ads — research the exchange's regulatory status first.
- ✓Report fake ads to the social media platform and to the FTC at reportfraud.ftc.gov.
What to save before reporting
- ✓Save the message, profile, phone number, email, or URL that was used.
- ✓Keep payment confirmations, receipts, and account alerts before you dispute or delete anything.
- ✓Write down the timeline while the details are still fresh.
How big is this problem
You are not alone — this scam affects millions of people.
These numbers come from government agencies and official reports. If you have been affected, know that this is a widespread problem — not something that only happens to careless people.
FTC 2024 fraud losses
Imposters
Most common FTC fraud category in 2024
FTC says imposter scams remained the most commonly reported fraud category in 2024.
History and evolution
- This scam family tends to persist because the social-engineering pressure works even when the exact scripts, platforms, and payment methods change.
- The specific packaging evolves over time, but the core pattern usually stays the same: create urgency, control the channel, and push action before verification.
- The FTC reported that consumers lost over 1.4 billion USD to social media-originated investment scams in 2023, with deepfake celebrity endorsements becoming a dominant vector.
Recovery and follow-up
- ✓Save the messages, receipts, account alerts, and transaction details before you block or delete anything.
- ✓Report the scam through the official platform or government channel that best matches where it happened.
- ✓Verify any celebrity endorsement by checking the person's official social media accounts and website.
- ✓Never invest through platforms promoted only in social media ads — research the exchange's regulatory status first.
- ✓Report fake ads to the social media platform and to the FTC at reportfraud.ftc.gov.
Why this pattern keeps working
Even when the story changes, most scams still use the same pressure pattern: urgency, authority, and a request to move money or data fast.
The FTC reported that consumers lost over 1.4 billion USD to social media-originated investment scams in 2023, with deepfake celebrity endorsements becoming a dominant vector.
FTC Consumer Protection Data 2024
Where to report it
If you have been targeted by this scam, reporting it helps authorities track the pattern and protect others. United States has dedicated agencies that handle fraud reports.
ReportFraud.gov
Federal Trade Commission
Central U.S. consumer fraud reporting portal.
File an IC3 complaint
FBI Internet Crime Complaint Center
FBI portal for internet-enabled crime reports.
Start identity theft recovery
IdentityTheft.gov
Official U.S. identity theft recovery plan builder.
Explore further
Understand the bigger picture
Who is most at risk
Who this scam targets
Primary targets
Crypto investors, Social media users, Young adults
Geographic concentration
United States, United Kingdom, Australia, Canada
Primary channel
Social media — AI deepfake scams
Why this group is vulnerable
Crypto investors are particularly vulnerable because this scam exploits trust in familiar brands, authority figures, and time-sensitive decisions. The growing number of reports suggests that awareness among this demographic remains low.
Sources and methodology
How we verify this information
OpenScam tracks scam patterns using a combination of government consumer protection databases (FTC, IC3, Action Fraud), platform-specific fraud reports, and verified consumer complaint data. Each entry is cross-referenced against at least two independent sources before publication.
Severity ratings are based on financial impact potential, reversibility of damage, and volume of reports across multiple reporting channels. Trend velocity reflects the rate of change in report volume over the most recent 90-day window.
This page was last verified on 2026-04-04. Red flags, recovery steps, and reporting resources are reviewed quarterly against current agency guidance.
Evidence and indicators
- The FTC reported that consumers lost over 1.4 billion USD to social media-originated investment scams in 2023, with deepfake celebrity endorsements becoming a dominant vector.
Source notes
- FTC Consumer Protection Data 2024
Frequently asked questions
Common questions about celebrity crypto endorsement deepfake
How does the celebrity crypto endorsement deepfake work?+
Scammers create convincing deepfake videos of well-known figures like Elon Musk or MrBeast promoting a crypto platform. These videos are distributed as paid social media ads targeting users interested in cryptocurrency and investing. Victims deposit funds on the fake exchange, see fabricated profits, and lose everything when they try to withdraw.
What are the warning signs of celebrity crypto endorsement deepfake?+
Celebrity endorsement video appears only on social media ads, not on the celebrity's official accounts Investment platform promises guaranteed returns with no risk The crypto exchange website was recently registered and has no regulatory credentials
What should I do if I encounter celebrity crypto endorsement deepfake?+
Verify any celebrity endorsement by checking the person's official social media accounts and website. Never invest through platforms promoted only in social media ads — research the exchange's regulatory status first. Report fake ads to the social media platform and to the FTC at reportfraud.ftc.gov.
Who is most at risk for celebrity crypto endorsement deepfake?+
This scam primarily targets Crypto investors, Social media users, Young adults. It is most commonly reported in United States, United Kingdom, Australia, Canada and typically appears on Social media.
Is celebrity crypto endorsement deepfake on the rise?+
celebrity crypto endorsement deepfake is currently on the rise with growing reports. It has been reported across US, UK, AU, CA. Last updated 2026-04-04.
Related scams
Similar scams to watch out for
Romance scams
↑ 41%Long-distance model romance scam
A glamorous long-distance profile quickly becomes emotionally intense and asks for travel or document money to finally meet.
What to do first
Verify with a live video call and outside social proof before believing the story.
Targets
Young adults
Seen in
Global
Romance scams
↑ 41%Sugar dating verification fee scam
A match promises an allowance but first requests verification payments, subscription fees, or gift cards to activate the arrangement.
What to do first
Treat any payment-before-payment arrangement as fraud.
Targets
Students
Seen in
Global
Investment scams
↑ 30%Managed forex account scam
A forex mentor offers to manage your money directly, showing screenshots of wins while dodging audited history or regulatory details.
What to do first
Avoid handing capital to unlicensed mentors from social media.
Targets
New traders
Seen in
Global
Help someone avoid this scam.
Scammers succeed because people do not talk about it. If you or someone you know has been affected, there is no shame in it — it happens to millions of people every year. Share this page with friends and family so they know what to look for.