Crypto Giveaway and Doubling Scams
"Send any amount to this address and we'll send double back." How crypto giveaway and doubling scams use fake celebrities, hacked accounts and livestreams, and why the crypto never comes back.
A livestream shows a famous entrepreneur talking about crypto, with a message on screen: "Send any amount to this address and receive double back instantly." It uses old footage or a deepfake, and every coin sent goes straight to the scammers.
Where they appear
- Video livestreams using old interviews or deepfakes. See deepfake endorsements.
- Hacked or impersonated social media accounts. See celebrity impersonation.
- Replies under real posts from lookalike accounts.
- WhatsApp and Telegram channels. See channel scams.
Why it works
- Famous names and logos borrow trust.
- Fake "transactions" scroll on screen, showing others receiving double.
- A countdown creates urgency.
Nobody sends back more crypto than you send. Not celebrities, not exchanges, not charities.
If you sent crypto
- Save the address, transaction ID and screenshots.
- Report to the exchange you sent from and to the authorities.
- Ignore anyone offering to recover it. See recovering stolen crypto.
For more, see investment and crypto scams.
Frequently asked questions
Do celebrities or companies really double people's crypto?
No. Any offer to send back more crypto than you send is a scam.
The giveaway is on a verified account. Is it real?
Verified accounts can be hacked or impersonated. Check the person's or company's official website.
Can I get my crypto back?
Crypto transfers are generally irreversible. Report to the platform and authorities, and beware of recovery offers.
Sources
- What To Know About Cryptocurrency and Scams, US Federal Trade Commission
- Learn & Protect, US Commodity Futures Trading Commission
- Refund and Recovery Scams, US Federal Trade Commission
