Impersonation Scams on Social Media Surge

[cryptobro]

Impersonation scams remain a major threat in the crypto world. Fraudsters pose as influencers, developers, or exchange staff on platforms like X, running fake giveaways or requesting crypto transfers. Red flags include misspelled usernames, unverified profiles, and unsolicited messages asking for funds.

Global losses from crypto scams reached $9.9 billion in 2024, with impersonation scams fueling a fourfold increase. In Hong Kong, scammers used a deepfake of Chief Executive John Lee to promote a fake government-backed digital currency, highlighting the rising sophistication of these schemes.

[Nahid10]

Fake profiles everywhere lately. The amount of verified-looking accounts pushing scams is unreal. Platforms need stricter identity verification ASAP.

[EmTeam]

Every other day I see fake accounts pretending to be project founders. It’s crazy how fast they pop up after any big announcement.