Why you shouldn’t trust cryptocurrency ads on social media: Top 5 scam cases

The cryptocurrency industry has seen an alarming rise in high-profile social media hacks, where attackers gain access to the accounts of influential individuals to promote fake meme coins. These incidents mislead gullible investors, lead to financial losses, and damage the reputation of the victims. GetBlock AML Research publishes the most high-profile cases of scams involving social media influencers.

Hacking of BBC presenter’s X account

In February 2025, BBC presenter Nick Robinson’s X account was hacked to falsely announce the launch of the $TODAY cryptocurrency on the Solana network. This fake advertisement led his followers to believe that he was associated with the project, causing widespread concern about the vulnerability of social media.

Kylian Mbappé’s X account hacked

Hackers took over football star Kylian Mbappé’s account and used it to promote $MBAPPE, a fake meme coin. The token quickly gained popularity, reaching a market cap of $460 million before being exposed as a “pump-and-dump” scheme.

Hacking of Drake’s X account

In December 2024, rapper Drake’s X account was hacked to promote the Solana-based meme cryptocurrency $ANITA. The fraudulent token generated over $5 million in trading volume before being removed, demonstrating how powerful the influence of celebrities can be on crypto markets.

Hack of Zach Witcoff’s X account

Hackers also hacked World Liberty Financial co-founder Zach Witcoff and used his social media accounts to promote the BARRON meme coin. Even after the posts were deleted, the token’s price remained relatively stable, highlighting the resilience of such schemes.

How social media hacks affect the crypto market

These incidents have serious consequences for the crypto investor community:

• Investor losses. Many people trust the endorsements of influencers and lose money when scam tokens collapse.
• Undermining trust. Such scams destroy faith in both social media and the crypto industry.
• Regulatory pressure. The authorities are strengthening supervision and can change the rules, creating a new market reality.

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Binance founder Changpeng Zhao warned users not to click on links after the official BNB Chain account on X was hacked

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How to protect yourself from crypto scams on social media

To avoid becoming a victim of fraud, follow these recommendations:

• Check announcements. Always verify influencers’ statements with official sources. If a project appears suddenly with unexpected “star” advertising, this is a warning sign.
• Strengthen account security. Use two-factor authentication (2FA) and other protective measures to prevent unauthorized access.