Beware of Fake Celebrity Endorsements for Online Investment Scams

Scammers are using fake news articles and deepfake videos to trick people into investing in online trading platforms. Don’t let these fake endorsements from famous people fool you.

How the scam works

  • Fake articles and videos claim celebrities are making huge money from online trading
  • They often mention AI or emerging tech like quantum computing generating big returns
  • Links lead to scam sites that ask for your details and an initial investment of around $250 (£197)
  • Scammers show fake profits to persuade you to invest more money
  • When you try to withdraw funds, scammers demand extra fees or lock you out of your account

Real examples of these scams

  • One man lost $80,000 (£63,000) in crypto after seeing a deepfake Elon Musk video endorsement
  • He was given a fake online dashboard showing massive returns on his investment
  • But he was locked out when he tried to get his money back
  • Reports indicate that trading platform scam brands include ‘Quantum AI’, ‘Immediate Edge’, ‘Immediate X3’ and others

Protect yourself from these scams

  • STOP – Don’t give personal info or act on investment “tips” from social media
  • THINK – Ask yourself if you really know what you’re investing in
  • Scammers create very convincing fake articles and videos to seem legitimate
  • Search online to check for warnings about the trading platform and public figure

If you have any doubts, stop communicating with them. Be very cautious about online investment opportunities endorsed by celebrities – they are almost certainly scams.

Summary:

Latest Scams