Key Takeaways
- Impersonation scams are some of the most successful amongst fraudsters.
- Telegram has come under scrutiny for rampant scam and fraud activity.
- Changpeng Zhao has criticized Telegram for being full of fake accounts.
U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce, referred to by many in the crypto community as “Crypto Mom,” has sounded the alarm after discovering that scammers are impersonating her on Telegram.
This comes as the crypto markets swell with value and activity, providing the perfect conditions for fraudsters to capitalize on the hype and FOMO.
Hester Peirce Warns Telegram Community
On Oct. 9, Peirce posted to X to inform the community that she isn’t active on Telegram after learning that impostors are using her name to scam people on Telegram.
This is the first time Peirce, who heads the newly established SEC Crypto Task Force, has publicly condemned an impersonation scam using her name.
But it’s far from the first time scammers have attempted to use her, or the SEC, to dupe people into handing over their crypto.
The SEC itself issued warnings and guidance on impersonation scammers in September 2025.
In tandem with social engineering and occasionally deepfakes, impersonation scams are, unfortunately, some of the most successful lines of attack for fraudsters.
Telegram Scammers
The news comes shortly after Telegram founder, Pavel Durov, became aware of the extent of fraud, scams, and even blackmail on the platform, and promised to clean up the app.
Evidently, this might be a tall order for an app with over 1 billion users.
Furthermore, when the crypto markets rally, phishing attacks and scams rise alongside them.
In September this year, former Binance boss Changpeng “CZ” Zhao, a frequent target of hacks, said that he personally doesn’t use Telegram as “all those accounts are fake,” and that it’s full of spam.
After some criticism and pushback, a few days later, it was found that he was also being impersonated on Telegram.
Whilst there are privacy features that allow people to block messages from certain users, Telegram still allows people to run ads inside community group chats that lead directly to wallet drainers.
Fake impersonation accounts are easy to create; it’s just a matter of convincing the user to engage with them in some way.
Exercise caution in these times of heightened market activity. If an opportunity looks too good to be true, it probably is.
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Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
