Most Discussed Scams Online: Crypto Scams Get Over 21 Billion Views

Internet overconfidence makes young adults twice as likely to fall victim to scams, and many of them are discussing the scams they’ve fallen victim to online.

The Most Discussed Scams Online: Cryptocurrency Scams Get Over 21 Billion Views on TikTok

Amid reports that young adults are twice as likely to fall victim to scams due to internet overconfidence, Scams.info have analyzed TikTok to discover which scams are most discussed by users on the platform.

Scams.info found that crypto scams are most discussed on TikTok with 21.4 billion views across the platform. This is over 12 billion more views than ‘charity scam’ which ranks in second place [9.1 billion]. 

Highlights from the study:

  • ‘Crypto’ scams are discussed the most on TikTok with 21.4 billion views
  • Bitcoin investment schemes are one of the main crypto scams to watch out for in 2023
  • 3.1 billion TikTok users have viewed content related to Covid vaccine scams
  • 1.8 billion TikTok users have viewed content blaming bottled water as a scam
  • Concert tickets, pyramid schemes and funeral donations also rank in the top 30

 

Over 21 billion TikTok views for videos warning against Cryptocurrency scams

 

Not only is this a timely issue, with data from the FTC claiming in 2021 more than 46,000 people reported losing over $1 billion in cryptocurrency to scams, but the FTC have reaffirmed scams of this nature are more likely to affect younger people. In fact, “people aged 20-49 were more than three times as likely as older age groups to have reported losing cryptocurrency to a scammer.”

Per TechTarget, cryptocurrency scams to look out for in 2023 include bitcoin investment schemes [scammers contacting investors claiming to be seasoned ‘investment managers’] and rug pull schemes [scammers ‘pumping up’ a new project, non fungible token [NFT] or coin to get funding].

 

Meanwhile, charity scams include misuse of charity money, false expenses, and unauthorized fundraising

 

With 9.1 billion views, scams connected to ‘charity’ rank in second place. Scams in this sector can include the misuse of charity moneyfalse expenses and unauthorised fundraising.

With 'Charity Fraud Awareness Week’ recently taking place [October 2022], it was claimed “More than 50% of allegations of fraud received by the ACNC [Australian Charities and Not-for-profits Commission] relate to the conduct and activities of senior, entrusted members of the charity.

But the ACNC warns fraud can be committed by any person given some level of responsibility within a charity.

 

‘Detox’ scams rank third on the list of most discussed scams on TikTok

 

In third place are ‘detox’ scams with 6 billion TikTok video views. Detox scam is an umbrella term to include any product or food or drink that is pitched to ‘cleanse your body.’

TikTok’s ‘internal shower trend’ is a prime example. The drink combines chia seeds, lemon juice and water and is said to stimulate bowels and support detoxification - but many wellness experts suggest the drink should be avoided

 

Other top scams most discussed on TikTok: The results

 

Rank Type of 'Scam' Exact Phrase Searched on TikTok Total TikTok Views     1 Crypto Crypto scam 21,400,000,000 21.4B   2 Charity Charity scam 9,100,000,000 9.1B   3 Detox Detox scam 6,000,000,000 6B   4 Coronavirus Covid vaccine scam 3,100,000,000 3.1B   5 Bottled water Water bottle scam 1,800,000,000 1.8B   6 Concert ticket Ticket scam concert 1,100,000,000 1.1B   7 Auction  Auction scams 1,000,000,000 1B   8 Repair Repair shop scams 527,500,000 527.5M   9 Credit  Credit scores are a scam 478,500,000 478.5M   10 Pyramid scheme Pyramid scheme scam 250,100,000 250.1M   11 Parking Car parking scams 233,500,000 233.5M   12 Job offer Scam job offer 148,300,000 148.3M   13 Small business  Small business scams 145,400,000 145.4M   14 Energy bills Energy bill scam 123,800,000 123.8M   15 Textbooks Textbook scam 90,800,000 90.8M   16 Login  Login scam 82,800,000 82.8M   17 Multi-level marketing Multi-level marketing scam 57,500,000 57.5M   18 Diamonds Diamonds are a scam 48,900,000 48.9M   19 Wedding  Wedding scam 34,300,000 34.3M   20 Postal Postal scam texts 30,000,000 30M   21 Romance Romance scams 27,700,000 27.7M   22 Online shopping Scammed online shopping 27,100,000 27.1M   23 Diet Diets are a scam 17,800,000 17.8M   24 Health insurance Free health insurance scam 17,500,000 17.5M   25 Holiday Holiday scams 9,500,000 9.5M   26 Competition Lucky day competitions scam 7,500,000 7.5M   27 Government UK gov scam 7,300,000 7.3M   28 Lunch break 30 minute lunch break scam 4,400,000 4.4M   29 Lottery Lottery scam 2,800,000 2.8M   30 Funeral Funeral donation scam 1,100,000 1.1M

 

     

Nicholas Crouch, spokesperson for Scams.info, said:

“Across the media, a rise in scams is being reported and we can see from TikTok analysis that many people [many young people - taking into account TikTok’s demographic, with Exploding Topics reporting 47.4% of TikTok users are under 30] are falling victim to - or are concerned about - the scams that may affect them.

This can include anything from concert ticket scams, a huge bone of contention as popular music acts like Taylor Swift launch new tour dates, to competition scams, where many people are promised dream prizes such as property or cars in exchange for personal details or money.

It’s important to stay alert to potential scams/scammers - always take the time to stop and think before proceeding and never feel too embarrassed to question something if it doesn’t feel or look right.”