When Fame Meets Fraud: Crypto Scams Targeting Celebrities
As cryptocurrency continues its meteoric rise, it’s not just everyday investors jumping in — celebrities are diving headfirst into the digital asset world too. But fame doesn’t grant immunity from fraud, and some of the world’s most recognizable names have learned this the hard way.
Here are three high-profile crypto scams that trapped famous figures, causing financial losses and dented reputations.
1. Pump-and-Dump Scams – Jason Derulo and Caitlyn Jenner
Pop star Jason Derulo, known for his chart-topping hits and viral dance moves, found himself in hot water after launching a meme coin named JASON in mid-2024. The coin initially surged in value thanks to a strong social media push, but quickly crashed over 70%, leaving investors furious.
Derulo claimed he was misled by Sahil Arora, a notorious crypto influencer accused of orchestrating pump-and-dump schemes — where a token’s value is artificially inflated before insiders sell off for profit.
Caitlyn Jenner also pointed fingers at Arora, alleging he used her name for a similar scam. Both stars accused him of withholding key financial information and conducting unethical trading practices, including mass token sales post-launch that drove prices down.
2. Phishing and Account Hacking – Kylian Mbappé, Metallica & Sydney Sweeney
Football sensation Kylian Mbappé was caught in a phishing scam when hackers breached his official X (Twitter) account to promote a fake token named MBAPPE. The coin briefly ballooned in value before plummeting to zero, burning unsuspecting fans who had invested.
The damage didn’t stop there. Cybercriminals also hijacked accounts belonging to rock legends Metallica and actress Sydney Sweeney, pushing fake tokens $METAL and $SWEENEY. Combined, these scams reportedly led to over $23 million in investor losses.
These incidents underscore how celebrity brand value can be weaponized by hackers to push fraudulent tokens to a wider audience — fast.
3. Reputation Risk and Legal Fallout – Tom Brady and FTX
NFL icon Tom Brady thought he was backing a winner when he became the face of FTX, a once-prominent crypto exchange. Along with his former wife Gisele Bündchen, he invested heavily in the company, with stock holdings worth $30 million and $18 million respectively.
However, FTX’s spectacular collapse in late 2022 shocked the financial world. Founder Sam Bankman-Fried faced charges of fraud, money laundering, and securities violations, dragging celebrity investors into legal chaos.
Brady wasn’t alone — Naomi Osaka, Stephen Curry, Larry David, and other A-listers who endorsed FTX are now part of a major class-action lawsuit filed by angry investors who claim they were misled by the endorsements.
Conclusion: Fame Is No Shield Against Crypto ScamsThese cases prove a harsh truth: celebrity status offers no protection in the wild world of crypto. Whether it’s being exploited by bad actors, unknowingly promoting shady projects, or getting caught in legal crossfire, high-profile individuals are just as vulnerable as anyone else.
As crypto grows, so does the need for due diligence, transparency, and security. The next time a famous face backs a coin or project, remember — hype doesn’t equal safety.
