The short answer
Fake celebrity endorsements are a common scam tactic. If an advertisement uses a famous face to promote 'guaranteed returns' on a crypto project, it is likely fraudulent. Always verify investment opportunities through official government resources like ASIC's Moneysmart website, and never trust an ad solely because of the person featured in it. If a site looks suspicious, do not share personal details or connect your wallet.
In Australia, scammers frequently use the images and names of celebrities, influencers, or reputable business figures to lend false credibility to fake crypto schemes. These advertisements are designed to create a sense of trust that the underlying project is legitimate.
It is important to remember that a celebrity's face in an ad is not proof of a company's integrity. These individuals are often unaware their likeness is being used, or the endorsements themselves are entirely fabricated.
01Identifying Fabricated Endorsements
Scammers use sophisticated AI and photo manipulation to create fake interviews or articles where celebrities 'recommend' a specific crypto platform. These ads often appear on social media and lead to websites that copy the design and branding of trusted news outlets or government agencies.
Always check the URL of the website you are clicking on. Does the domain name match the official source? Scammers often use slightly misspelled domains to deceive users.
Source for this section[1] ASIC Moneysmart: crypto scams
02Why 'Guaranteed Returns' Are a Warning Sign
Any investment opportunity that promises high returns with little to no risk is a scam. Genuine crypto investments are volatile and high-risk. No legitimate financial service will ever offer guaranteed returns.
If an ad uses a celebrity to entice you with 'free crypto' or 'immediate wealth', it is using standard scam psychological tactics to bypass your critical thinking.
Source for this section[1] ASIC Moneysmart: crypto scams
03The Role of Social Media Platforms
Social media platforms host millions of ads, and not all are vetted for authenticity. The presence of an ad on a platform does not constitute an endorsement or a guarantee that the product is real.
Finfluencers or social media personalities may be paid to promote these schemes, and they might not be qualified to provide financial advice. Even if a person you recognize is shown in the ad, their presence is not a substitute for due diligence.
Source for this section[1] ASIC Moneysmart: crypto scams
04Using Moneysmart for Verification
The Australian Securities and Investments Commission (ASIC) provides a wealth of information on its Moneysmart website to help you avoid investment scams.
Before investing, search for the company name on the ASIC registers. If the company is not listed or if there is an investor alert for the platform, do not proceed. Always rely on government-provided verification tools rather than information provided directly by the promotional ad.
Source for this section[1] ASIC Moneysmart: crypto scams
05Practical Analysis: The 'Celebrity' Test
When you see a celebrity-endorsed crypto ad, perform this quick sanity check:
1. Does this ad promise high returns? 2. Can I find a credible, independent news source confirming this endorsement? 3. Does the URL of the link look different from the official website of the firm or celebrity? 4. Is the site asking for personal details before providing any clear investment terms? 5. What does ASIC’s website say about this platform?
Source for this section[1] ASIC Moneysmart: crypto scams
06If the advert has already led to a payment
ASIC advises contacting your bank or card provider promptly if you paid through those channels; a reversal may be possible, but is not assured. That is different from reversing cryptocurrency you subsequently sent on a blockchain. Keep the advert, its destination address and the actual payment records together so the funding path is understandable.
Report the suspected scam through official Scamwatch and police channels. If a new contact offers to recover the loss and asks you to pay a release fee, pause: ASIC specifically warns about follow-up recovery scams. A celebrity image does not make that second offer safer.
Source for this section[2] ASIC: follow-up recovery scams
Checklist
- Do not click on links in social media advertisements.
- Check the official URL and look for spelling mistakes.
- Search for the investment platform on the ASIC website.
- Look for independent reviews outside of the platform's site.
- Be wary of 'guaranteed' profit claims.
- Remember that influencers are often paid and may not be experts.
- Never connect your wallet to an unverified platform.
Questions people ask
Is it safe to invest if the celebrity is very famous?
No. The scammer is using the celebrity's fame to build fake trust. A celebrity's involvement does not make a scam platform legitimate.
What should I do if I see a fake ad?
You can report the ad to the social media platform and inform Scamwatch of the suspicious activity.
Are all sponsored posts on social media scams?
Not all are scams, but you should treat all unsolicited investment ads with high skepticism, especially those regarding crypto.
Safety boundaries
- No legitimate helper needs your seed phrase, private key, password, one-time code, remote access to your device or a wallet connection.
- Nobody can promise that funds will be recovered. Treat any guarantee, or any fee demanded to release funds, with suspicion.
- Find official contact details yourself, through the regulator, bank or platform website, not through a message or advert you received.
- This guide is general education. It is not legal, financial or tax advice and does not assess your situation.
If you want to organise your facts, the initial claim outline on our homepage collects only a short summary and contact details. It creates no client relationship and promises no outcome. Do not send documents or credentials.
Official sources
- [1]ASIC Moneysmart: crypto scams
Checked 4 October 2026 - [2]ASIC: follow-up recovery scams
Checked 4 October 2026
AI-assisted educational content published by Central Crypto Claim using the official sources listed below. No independent expert review is claimed. This is not legal, financial or tax advice.