Social Media Scams & Giveaways

Social media crypto scams are fraudulent schemes that use platforms like Twitter/X, Instagram, Facebook, YouTube, Telegram, and TikTok to trick users into sending cryptocurrency or revealing sensitive account information.

These scams are particularly effective because they leverage the credibility of familiar platforms, well-known personalities, and established brands. A post appearing to come from a verified account, a celebrity, or a respected organisation can bypass even a cautious user's instincts. Social media allows these schemes to reach millions of people within hours, making them highly scalable and difficult to contain.
 

Fake Giveaways — A post appearing to come from a celebrity, influencer, or well-known brand promises to double any crypto you send to a specified wallet. Nothing is ever returned.

Impersonation Accounts — Fraudsters create accounts that closely mimic legitimate organisations or public figures — near-identical usernames, profile photos — and use them to promote scams or solicit funds.

Fake Customer Support Accounts — When you post about a problem with a crypto platform, fake support accounts respond offering help, then steal your credentials or funds in the process.

Pump and Dump Promotions — Influencers or coordinated groups heavily promote a low-value token to inflate its price before selling their holdings, leaving other investors with worthless assets.

Airdrop Scams — You're told you've qualified for a free token airdrop but must connect your wallet or pay a small fee to claim it. The connection drains your funds, or the fee disappears with no airdrop delivered.

Sponsored Advertisement Scams — Fraudulent platforms and investment scams are promoted through paid social media advertisements that appear professional and credible.

Discord and Telegram Group Scams — Fake or compromised community groups are used to promote fraudulent investment opportunities, fake token launches, or malicious links.

• An account is offering to double or multiply any crypto you send
• The offer has an artificial deadline to create urgency
• A celebrity or well-known brand is promoting a giveaway that requires you to send funds first
• A support account contacts you unsolicited after you posted about a problem
• The account username has subtle differences from the official account — extra characters, underscores, slight misspellings
• You're asked to connect your wallet to a platform you found through a social media post
• An airdrop requires you to pay a fee or share your private keys to claim it
• A video uses edited footage of a public figure appearing to endorse a crypto opportunity

Example: Elon Musk appears to be live-streaming on YouTube announcing a major Bitcoin giveaway. The stream uses real footage edited to appear live. Viewers are told to send Bitcoin to a wallet address to receive double back. Thousands of people send funds. Nothing is returned. The stream was entirely fraudulent.

Ndax will never run a giveaway that requires you to send crypto first, contact you through social media to request account information, ask you to connect your wallet to a third-party platform promoted via social media, endorse unsolicited investment opportunities through social media, or direct message you with offers or requests for personal information.

The only official Ndax social media accounts are listed on ndax.io. Any other account claiming to represent Ndax should be treated with extreme caution and reported immediately.

Check ndax.io directly for links to official social media accounts. Review the account's history — legitimate accounts have a long record of consistent posting rather than recently created profiles. Verified badges can sometimes be purchased or faked on certain platforms, so treat them as one signal, not final confirmation.

• Never send crypto to receive more back — no legitimate giveaway requires you to send funds first
• Never connect your wallet to a platform you discovered through a social media post without thorough independent research
• Go directly to ndax.io for any support needs rather than seeking help through social media
• Be sceptical of urgency — legitimate opportunities don't disappear in minutes
• Enable 2FA on all your social media accounts to prevent your account from being used for impersonation
• Report suspicious accounts immediately to help protect other users

Do not send any further funds. If you connected your wallet to a suspicious platform, revoke wallet permissions immediately and move remaining funds to a new wallet if you believe the wallet has been compromised.

Change your Ndax password, confirm 2FA is active, and review your recent account activity. If you transferred crypto from your Ndax account, contact [email protected] right away. Cryptocurrency transfers are generally irreversible, but your report may help us review the activity and protect other users.

If fiat funds, bank transfers, credit cards, debit cards, or payment services were used, notify the financial institution where the funds originated.

Document everything, including screenshots, account handles, profile URLs, wallet addresses, transaction records, posts, advertisements, and any direct messages.
 

• Report to Ndax at [email protected] if your Ndax account was involved or crypto was transferred from your Ndax account
• Report to the CAFC at antifraudcentre.ca
• Report to the RCMP at reportcyberandfraud.canada.ca
• Notify the financial institution where the funds originated, such as your bank, card provider, or payment service provider
• Report fake profiles directly through the relevant social media, messaging, or dating platform