In this blog, we take a look at fake news and celebrity crypto scams. These false reports are repeatedly appearing online, with each celebrity advertising similar tales of trading success and get rich quick “opportunities”.
It is important to remain vigilant to this type of information as we enter a bullish period. Firstly, because there is a direct correlation between growth in the crypto markets and increased scamming.
And secondly, as we read in the Chainalysis Crypto Crime Report, scammers are becoming more and more sophisticated and adaptive. Being aware of what to look out for is paramount for maintaining safety online.
False Celebrity Endorsements
Annechien Steenhuizen and Geraldine Kemper are just two of the faces used by investment scammers in The Netherlands. However, this approach has been a growing issue internationally. Celebrities from Tom Hanks to Bear Grylls are being used as the “faces” of these false opportunities.
Sophisticated Scamming
The latest trend scammers are using is to create fake online news reports about news broadcasts that never actually happened. Scammers emulate trusted news websites such as NOS and The Guardian, so that upon first glance, the stories appear real.
In the case of Annechien, a sophisticated story has been developed. It shares details of a live broadcast being stopped by the national bank. According to the fake news, Annachien shared details of a crypto trading bot that could make you a millionaire within four months. Links to the scam platforms are available on the fake news story (which appears to be the NOS news website). Creating the ongoing illusion that they are real and legitimate.
Same Script Different Cast
Similarly, Geraldine Kemper’s image was used to advertise another opportunity and was even at one point trending on X. She has been combating this with interviews and social posts with the hope her fans will see that it is not to be trusted. Sadly, it is already too late for many victims.
“It must be known that this is happening. Not only that, my face is used for this because if it is no longer popular, they will use another one.”
– Geraldine Kemper to Linda NL (translated)
Multiple, almost identical scams have also appeared in the UK, including, among others, political editor Robert Preston and TV presenter Bear Grylls. Again the fake news stories report the broadcast being stopped by the banks and authorities. It said they fear citizens will no longer require jobs due to the gains available by the crypto trading bots.
Celebrity Impersonation and Victim Grooming
Just last month, UK breakfast show This Morning interviewed a scam victim who believed they had been communicating with money saving expert Martin Lewis. They had been heavily groomed, receiving daily calls and reassurance. Sadly, over time, the victim lost £40,000 through loans being taken out to cover crypto investments. Like many victims, they were under the illusion it could all be paid back with the gains in no time.
Martin Lewis has repeatedly besought viewers not to trust anything of this nature. He emphatically states, “I don’t do ads”. Nonetheless, his own website was duplicated and peppered with fake news stories linking to investment scams.
Deep Fakes and Celebrity Trends
With the rise of deep fakes and AI technology, it is more important than ever to be cautious. We must triple check every (so called) opportunity. Many celebrities are also being deep faked, which means they appear to be saying the words themselves. This, of course, further complicates the truth.
As a general rule, we would recommend not trusting any celebrity endorsed get-rich-quick scheme. The celebrities selected by scammers are usually those trusted by the public, such as newsreaders or presenters. This creates a false sense of security. Scammers are also choosing trending celebrities to achieve maximum reach, and can easily exchange one face for another as they please.
Always Check URL links
These articles are appearing across social platforms and should not be trusted!
- One of the quickest giveaways that a story or website is fake is the URL.
- ALWAYS go to the original website and check the URL.
- ALWAYS research the celebrity plus the word scam. You may find that there are already warnings online.
- NEVER follow additional links to crypto opportunity platforms unless you have triple checked their legitimacy.
If the story does not appear on the REAL news website, it is FAKE NEWS! As always, if something seems too good to be true, it most likely is.
How BlockFo Can Assist
We hope that this article was useful, and you will now recognize the signs for fake news and celebrity crypto scams.
If you have experienced a crypto scam of any kind and would like to open a case, please contact our dedicated team promptly.
Our team specializes in blockchain forensics. We use advanced tools to track and trace crypto assets and help build strong cases against scammers.
