On Mar. 31, 2020 French soccer superstar Kylian Mbappé filed a complaint about the unauthorized use of his name on a crypto scam network, which is being investigated by French local authorities.

The story was first reported by the French newspaper L’Équipe which revealed that the soccer player, who plays for Paris Saint-Germain, is being impersonated by con artists who wish to promote an illicit crypto scam. The masterminds of the virtual currency use Mbappe’s name in advertising campaigns for the alleged crypto acquisition ploy.

The crypto ad that has been circulating cited false statements by Mbappé, where he supposedly claimed that the network offered a miraculous plan that would allow folks to become millionaires in 2 or 3 months.

Anne-Sophie Coulbois, head of the Central Office for the Suppression of Financial Crime with the French Judicial Police, explained:

“These pages are used to impersonate future victims, save your contact details, then an alleged vendor calls them to explain the procedure for investing, but there is never a product that is invested in.”

Mbappé among the Celebrities Being Used To Perpetuate Crypto Scams

According to French researchers, this type of plot uses the good image of celebrities to convince investors to put their money in this type of virtual currency. Through call centers located in Israel, they contact clients to convince them to invest, and when they do, they disappear without a trace.

According to the Financial Markets Authority, in 2018, 1,100 complaints of this type were received, and fraud reached 55.5 million euros. Last year, the scammed figure was about 30 million.

The researchers claim that cryptocurrencies have fallen somewhat into disuse and that con artists are now proposing investments in other products, such as great wines, matured whiskeys, or even dairy cows.

Unfortunately for Mbappe, this scam is not the first time that the French star is affected by alleged crypto scams that use his name without permission. Just last April, Mbappé’s official Twitter account was hacked with tweets where impersonators allegedly encouraged his followers to make investments in crypto scams.

Celebrities Prohibited from Promotion Dubious Crypto Projects

The U.S Securities and Exchange Commission (SEC) instructs that celebrities are not allowed to use their influence and fame to advertise any securities without properly disclosing their reimbursement.

On Feb. 27, 2020, the SEC settled charges against actor Steven Seagal for failing to disclose payments he received for promoting investment in an initial coin offering (ICO).

The SEC has formally instructed that, in accordance with the anti-touting provisions of the federal securities laws, any celebrity who promotes a digital token that is a security must disclose the amount of recompense gained in exchange for the advertising.