Celebrity Crypto Scams

From Mayweather to Logan Paul to deepfakes, celebrities are hitting the crypto market. Our guide covers common celebrity crypto scams and how to avoid them.

What are celebrity crypto scams?

Celebrity crypto scams are fraudulent schemes that exploit the fame and influence of well-known public figures to mislead people into investing in or buying cryptocurrency-related assets. These scams can take different forms, but they all revolve around using a celebrity's name, image, or likeness, sometimes with their permission, but often without it, to create false trust and lure unsuspecting victims.

There are two main types of celebrity crypto scams you need to know about:

• Celebrity pump and dump schemes: In this type of scam, a celebrity publicly promotes a specific cryptocurrency, token, or project, often on social media, to generate buzz and drive up the price. The promotion might include endorsements, flashy marketing, or claims about revolutionary technology or guaranteed profits. Once the price spikes due to the increased demand created by the promotion, the insiders (or even the celebrity themselves) quickly sell off their holdings at the inflated prices, making a profit. After that, the value usually crashes, leaving everyday investors with worthless assets.

• Deepfake scams: These scams use AI-generated videos, audio, or images that convincingly mimic a celebrity’s appearance and voice. Scammers might create a fake video of a celebrity “announcing” a new crypto investment opportunity or promising to double any funds sent to a specific wallet. These deepfakes can be incredibly realistic, making them dangerous tools for deception. Often, they’re spread through social media, fake websites, or even phishing emails to reach a broad audience quickly.

Read next: Common Bitcoin Scams

Which celebrities have been involved in pump and dump schemes?

The list is long and varied, but some of the many celebrities accused of being involved in pump and dump schemes include:

Actors, musicians & reality stars

• Kim Kardashian: Promoted the EthereumMax (EMAX) token on Instagram, encouraging followers to invest in what was ultimately a highly speculative and volatile asset. She failed to disclose that she was paid for the promotion, which led to an SEC investigation and a $1.26 million settlement. Investors claimed her promotion contributed to an artificial price spike before the token crashed.

• Lindsay Lohan: Endorsed a personal token called “LohanCoin,” which quickly lost value after launch. She was later implicated in the broader scheme involving Justin Sun’s Tron and BitTorrent token promotions, where she was paid to promote assets without disclosing her compensation, raising accusations of misleading advertising and pump‑and‑dump behavior.

• Soulja Boy, Lil Yachty, Jake Paul: These celebrities were involved in promoting SafeMoon, a token that soared in popularity due to influencer hype. Legal filings accused them of artificially inflating the token’s value through promotions and then benefiting from the resulting crash, consistent with pump‑and‑dump mechanics.

• DJ Khaled: Participated in the promotion of Centra Tech and EthereumMax. In both cases, celebrities were accused of promoting tokens with misleading information to inflate hype and attract retail investment. Centra Tech’s founders were later convicted of fraud, and EthereumMax became the center of a high-profile class-action lawsuit.

• Caitlyn Jenner, Rich the Kid, Ivana Knöll: All launched meme coins tied to their names and saw massive price increases immediately after launch. Blockchain analysis showed that a single wallet, connected to each of these coins, dumped large amounts of tokens for profit shortly after the price surge, suggesting a coordinated pump‑and‑dump setup.

• Sean Kingston: In late 2024, he launched a Solana‑based meme coin called $KING, which initially reached a market cap near $4 million before crashing to around $400,000 within minutes, suggesting a rapid pump‑and‑dump cycle. At the same time, Kingston and his mother were indicted and later convicted (March 2025) on federal wire fraud charges unrelated to the token, for defrauding vendors of luxury goods totaling over $1 million. The token’s collapse further damaged his credibility and legal standing

• Paris Hilton, Gwyneth Paltrow, Kevin Hart, Lana Rhoades, Jason Derulo: These celebrities were all tied to various initial coin offerings (ICOs), NFTs, or altcoins that experienced dramatic price manipulation. While not all cases involved lawsuits, many were criticized for contributing to asset bubbles that disproportionately harmed retail investors.

Read next: Crypto Rug Pulls Guide

Influencers & YouTubers

• MrBeast (Jimmy Donaldson): Allegedly involved in promoting low-market-cap tokens to his massive audience, triggering significant price surges. Critics claimed that he or insiders may have sold their holdings during these spikes, leaving regular investors with losses when the prices rapidly collapsed.

• Andrew Tate: Promoted speculative tokens that appeared designed to capitalize on hype rather than value. Some of these tokens experienced sudden value increases followed by dumps, raising suspicions of pump‑and‑dump dynamics orchestrated through his influencer platform.

• FaZe Clan Members (e.g. RiceGum and others): Promoted the “Save the Kids” token, which was marketed as a charitable crypto project. Shortly after its launch, the token’s value plummeted as insiders sold large portions of their holdings. The scandal severely damaged FaZe Clan’s brand and led to internal suspensions.

• David Portnoy (Barstool Sports): Frequently hyped various memecoins and small-cap tokens on social media. Although he claimed to support retail traders, critics argued that his influence contributed to rapid pump cycles in tokens that crashed shortly after he publicly exited his positions.

• Logan Paul: Named in a 2022 class‑action lawsuit over SafeMoon, accused of promoting the token on social media without disclosing compensation, allegedly driving rapid price spikes before selling into that momentum; later critics also point to his involvement in the failed CryptoZoo NFT project, which raised over $6.5 million and collapsed without delivering the promised game, leading to lawsuits and a partial refund scheme.

Sports figures & athletes

• Floyd Mayweather Jr. & Paul Pierce: Promoted EthereumMax at high-profile events like boxing matches and online media appearances. These promotions helped fuel interest in the token, which later collapsed. Both were sued by investors who alleged the promotions were part of a deliberate pump‑and‑dump scheme.

• Manny Pacquiao: Endorsed a crypto project linked to Centra Tech, which was later found to be fraudulent. Pacquiao’s involvement helped add legitimacy to the project in its early stages, encouraging fans and investors to buy in before the collapse.

• Tom Brady, Steph Curry, Naomi Osaka, David Ortiz, Shohei Ohtani, Larry David, Shaquille O’Neal: These athletes and entertainers were involved in promoting FTX, a now-defunct cryptocurrency exchange. While not a traditional pump‑and‑dump, they were named in lawsuits alleging they misled investors about the platform’s safety and legitimacy. Some, like Shaquille O’Neal, settled these cases out of court.

• Scottie Pippen, Odell Beckham Jr., Spencer Dinwiddie: Involved in launching or endorsing crypto tokens and NFT projects that experienced rapid speculation and price collapse. Beckham and Dinwiddie also accepted contracts in crypto, which significantly lost value. Critics questioned whether these projects were properly structured or merely vehicles for hype.

• Cristiano Ronaldo: Promoted Binance through a high-profile NFT partnership and marketing campaign. He was later named in a class-action lawsuit alleging that his endorsements misled investors by boosting public trust in the platform, which was accused of fraudulent practices, leading to retail losses consistent with pump‑and‑dump-style dynamics.

• Dillon Danis: In early 2023, MMA fighter and social media personality Dillon Danis was tricked by YouTuber Coffeezilla into promoting a fake NFT project called “SourzNFT.” Danis was paid roughly $1,000 to tweet a link that supposedly led to a mint page, but instead redirected followers to a website exposing over 20 crypto and NFT projects he had previously promoted, many of which were alleged rug-pulls or pump‑and‑dump schemes. The website even spelled out “SCAM” in the copied post. Danis reportedly accepted the contract without reviewing it and has not publicly addressed the allegations.

• Lionel Messi: Promoted at least two Solana‑based meme coins, WATER and TIME, via his Instagram stories in mid‑2024. In July, his WATER post caused its price to surge nearly 300–400% within hours before collapsing back sharply, amid evidence that insiders controlled roughly 30–35% of the token’s supply and may have profited heavily. His later promotion of TIME triggered a short‑lived spike that quickly receded. Although there’s no public confirmation that Messi personally profited or understood the projects, critics warn these endorsements followed classic pump‑and‑dump dynamics: high publicity, rapid price increase, and steep decline, leaving retail investors vulnerable.

Internet personalities

• Ice Poseidon (Paul Denino): Created his own token, CxCoin, and encouraged fans to invest. He then pulled roughly $300,000 from the liquidity pool and admitted publicly that he had no plans to return the full amount. The coin’s value tanked, confirming the project was essentially a fan-targeted pump‑and‑dump.

• Jack Doherty: A young and controversial IRL streamer and YouTuber who launched a meme coin called “McLaren” (also stylized MCLAREN) during a live stream in November 2024. He is accused of using multiple wallets to buy the token before hyping it to his audience, then dumping his holdings live, causing the price to crash. He deleted promotional posts afterward and viewers reported significant losses. Many characterized it as a blatant rug pull and classic pump‑and‑dump scheme tied to his influence and livestream antics 

• Haliey Welch (“Hawk Tuah Girl”): Launched a memecoin ($HAWK) shortly after going viral online. The token reached a market cap of $500 million before collapsing by more than 95%. Though she denied involvement in any wrongdoing, blockchain activity showed early wallets dumped large amounts for profit, triggering pump‑and‑dump accusations.

Read next: Hawk Tuah Scam

Celebrity social media hacks

As well as celebrities actively endorsing projects they haven’t researched, there’s also a growing trend of scammers hacking celebrities' accounts to promote tokens that seem associated with a given public figure. Recent hacks include:

• Metallica: Their X (formerly Twitter) account was compromised to post promotional messages about a token called $METAL, resulting in a surge of user interest and estimated losses of around $10 million before the scam was shut down.

• Sydney Sweeney: Hackers took control of her X account to promote a token named $SWEENEY, which quickly spiked then collapsed, causing an estimated $13 million in losses for investors.

• Dwayne “The Rock” Johnson: A fraudulent token called “Rock Coin” was launched under his name via hacked or impersonated channels. While no direct breach of his official account was confirmed, the misuse of his persona forced him to publicly denounce the scam.

• Dean Norris: The actor’s X account was hijacked in January 2025 to push a memecoin named DEAN, accompanied by fake media. Norris later confirmed it was a “complete, fake scam.”

• Drake: In late 2024, his X account was reportedly hacked to promote a Solana-based memecoin called $ANITA, which quickly generated about $5 million in trading volume before collapsing.

• 50 Cent (Curtis Jackson): The rapper’s social media and official website were hijacked to promote a token called $GUNIT, which allegedly yielded $300 million in 30 minutes. He later confirmed the hack and denied any involvement.

• Nick Robinson: The BBC presenter’s X account was breached in early 2025, posting a phony announcement about launching a token called $TODAY, alongside praise for unrelated political figures. Robinson confirmed the tweet was fraudulent.

Deepfake scams

As artificial intelligence continues to evolve, scammers are exploiting its power to fuel a growing wave of crypto-related fraud. At the center of this trend is the use of deepfakes: highly realistic AI-generated videos and images that mimic the voice, face, and mannerisms of celebrities. These fakes are now being deployed at scale to promote bogus cryptocurrency schemes, duping thousands of investors out of millions.

How deepfake scams work

These scams typically start with a fabricated video showing a well-known celebrity, often a trusted financial or tech figure like Martin Lewis or Elon Musk, enthusiastically endorsing a new crypto investment or claiming they’ve discovered a “secret” to building wealth. The ads often appear on social media platforms, YouTube pre-rolls, or even as fake news articles with official-looking headlines. The videos are convincing enough that many viewers don't realize they're entirely fabricated.

In one widespread example, a network of scammers used deepfake videos of Martin Lewis and other UK media personalities to promote fraudulent crypto platforms through Facebook and Google ads. Victims were directed to polished websites and contacted by agents who walked them through fake investments, showing manipulated dashboards with fake profits. Over 6,000 people across the UK, Europe, and Canada fell for the scheme, collectively losing around $35 million.

But this is far from an isolated case. Tom Hanks and Oprah Winfrey have also spoken out after their faces were digitally replicated to push crypto investments or AI trading bots they had no involvement with.

How will authorities tackle deepfakes?

These deepfakes are particularly dangerous because they short-circuit the public’s skepticism. A video of Elon Musk personally explaining a new investment opportunity seems far more trustworthy than a static ad or anonymous email. That illusion of authenticity is what makes these scams so profitable for criminals, and so devastating for victims.

Global estimates suggest that deepfake-driven scams have contributed to well over $100 million in investor losses in the last two years alone. Because these schemes often operate from outside regulatory jurisdictions and rely on crypto wallets and decentralized exchanges to move funds, recovering lost money is virtually impossible.

Governments and platforms are scrambling to respond. Meta and Google have promised stricter ad screening measures, and new legislation in the UK and EU aims to ban or limit deepfake political and financial advertising. But enforcement lags behind the technology. For now, deepfakes remain one of the most effective, and least understood, tools in the crypto scammer’s arsenal.

Read next: ICO Scams

How to spot and avoid celebrity crypto scams

Whether it's a celebrity endorsement, viral token launch, or AI-generated fake ad, crypto scams are getting more sophisticated. Here’s how to protect yourself:

• Be skeptical of celebrity promotions: If a well-known figure suddenly promotes a new token, assume it's marketing, not due diligence.

• Look for disclosure: Legally, paid promotions should disclose compensation. If there’s no clear #ad or disclaimer, that’s a red flag.

• Check tokenomics: Tokens with huge pre-mines, anonymous teams, or low liquidity are often engineered for insiders to dump.

• Don’t FOMO: Just because a token is trending doesn’t mean it’s safe. Price spikes followed by rapid crashes are a classic pump‑and‑dump pattern.

• Watch for too-good-to-be-true videos: If a celebrity appears in a video guaranteeing crypto profits, it’s almost certainly fake.

• Check official channels: Visit the celebrity’s verified website or social media accounts. If it’s not mentioned there, it’s probably a scam.

• Don’t assume legitimacy just because it's a verified account: Even verified profiles can be hacked. Sudden crypto promotions from unexpected celebrities are suspicious.

• Be wary of influencer-launched tokens: Many meme coins are launched with hype and no actual use case. They can rise fast, and crash even faster.

• Watch blockchain activity: Use tools like Etherscan or Solscan to see how many tokens are held by insiders. Large insider holdings are a major red flag.

• Ask: What does this coin actually do? If the answer is “make money” or “go viral,” walk away.

Read next: How to Report Stolen Crypto

Losses? Koinly can help

If you have losses from a scam, a tool like Koinly can help you figure it out come tax time. While losses are never good news, there’s a small silver lining in that you can offset them against your gains in order to reduce your tax liablity. Koinly can help you calculate realized losses, as well as identify unrealized losses to harvest. Try it free today.