UBCNews - Business - How To Find Trustworthy Crypto Influencers On X & Avoid Getting Scammed

Episode Date: November 19, 2025

Welcome back everyone! Today we're tackling something that's, uh, honestly essential for anyone in the crypto space - how to identify trustworthy influencers on X and avoid getting scammed. Crypto scams have increased significantly in recent years, and this is a conversation we need to have. MW Trading World City: Frankfurt am Main Address: 4 Börsenplatz Website: https://www.mwtradingworld.com/

Welcome back, everyone. Today we're tackling something that's, uh, honestly essential for anyone in the crypto space, how to identify trustworthy influencers on X and avoid getting scammed. Crypto scams have increased significantly in recent years, and this is a conversation we need to have. Absolutely. The FTC reported a 900% increase in crypto scams since the start of the pandemic, and in 2021, Americans lost over a billion. dollars to crypto-related fraud. The environment has become incredibly dangerous, especially for retail traders who are just trying to make informed decisions. So let's start with the scams themselves. What are some of the most common ones people should watch out for, and how do fake influencers play

into these schemes? Right, so there are a few major ones. Pump and dump schemes are probably the most visible. Fraudsters will hype up a particular coin or token through social media, driving the price up artificially. Then they sell their holdings and the price crashes, leaving everyday investors holding worthless assets. And that can happen fast, right? Within minutes sometimes. Another big one is fishing scams.

Fake influencers will direct followers to fraudulent websites that look legitimate, and these sites are designed to steal your wallet's private keys and passwords. Once they have that information, your funds are gone. I mean, that's terrifying. What about those celebrity endorsement scams we've been hearing about? Yeah, those are increasingly sophisticated. Scammers create fake social media accounts using unauthorized images of celebrities or well-known figures.

They'll promise giveaways or guarantee returns, which are immediate red flags. We're also seeing a rise in AI-generated deep-fake scams that impersonate trusted figures. Mm-hmm. That's wild. And you know what's almost funny? If it wasn't so dangerous, scammers will sometimes promise. to double your Bitcoin if you just send them some first. It's like the digital version of the old Nigerian Prince email, but people still fall for it.

Fake apps are another vector, aren't they? Definitely. Fake cryptocurrency apps have appeared in official stores like Google Play and the Apple App Store. These apps either steal your information outright or allow initial small withdrawals to build trust, then prevent you from accessing your funds once you've invested more.

So to everyone listening, Have you ever wondered how these scammers build such convincing facades? That point about building trust through small withdrawals sets up our next piece, vetting influencers for authenticity. But first, a quick word from our sponsor. Moving through crypto markets can feel overwhelming, especially when you're trying to identify high-probability setups and avoid emotional bias.

That's where M. Whale Killer's Trading Course makes a real difference, built for retail traders who want a structured, data-driven approach to learning the markets. The course breaks down key concepts, trading frameworks, and real-world examples to help traders develop confidence and consistency. Visit mwtradingworld.com to learn more. Disclaimer, this is not investment advice or any other kind of advice. Picking up on building trust, how do you actually vet crypto-influencers to determine if they're trustworthy versus just building a facility?

SAD. Great question. First, you want to look for thought leaders, not just influencers with big follower accounts. Flashy promises and high follower numbers can be misleading. What you really want are people with a proven track record of providing valuable insights and supporting legitimate projects. Right, exactly. Check their engagement patterns. Micro and nano-influencers often have higher engagement rates and more authentic communities compared to accounts with millions of followers. Look at how they interact. Are they providing educational content or are they just shilling specific coins? That distinction matters. What about researching the projects themselves? When should people do their own homework? Always, I can't stress this enough. Read the white

papers. Every legitimate cryptocurrency should have a white paper that explains how it's designed and how it operates. If the white paper doesn't make sense or doesn't exist, that's a massive red flag. Do your due diligence. Basically, verify everything independently before investing a single dollar. And unnamed team members are another warning sign, right? Exactly. You should be able to find out who runs the cryptocurrency, their biographies, their credentials, their presence on social media. If that information is hidden or vague, walk away. Transparency is key in this space. I actually had a friend who got caught up in a giveaway scam last year. The account looked legitimate, had thousands of followers, and promised to match any crypto cent.

He lost a decent chunk of money before realizing it was fake. That's unfortunately common. I had a similar experience early on. Not quite as bad, but I nearly sent funds to what I thought was a legitimate air drop. Caught it just in time when I noticed the website URL was slightly off. Any promise of guaranteed returns or free money is a scam. Legitimate investments carry risk. Anyone telling you otherwise is lying.

You know, building long-term partnerships with trusted voices seems smarter than chasing one-off tips. Absolutely. Ongoing collaborations and consistent voices perform better than constantly jumping between different influencers. Find a few credible sources, verify their information independently, and build your knowledge base over time.

Take your time, resist those high-pressure tactics, and remember that if something seems too good to be true, it probably is. So the three key takeaways here are, one, watch for red flags like guaranteed returns and celebrity endorsements. Two, vet influencers by checking their track record and community engagement. And three, always do your own research. Read white papers, verify team members, and never invest money you can't afford to lose. That's the formula for staying safe. The crypto space has incredible potential, but it requires diligence and a healthy skepticism. Protect your wallet keys, question every claim, and remember that scammers are getting more sophisticated every day.

Essential advice. Thanks so much for breaking this down today. Hopefully our listeners feel more equipped to move through this space safely.