SEC’s Hester Peirce Warns Investors About Telegram Cryptocurrency Scams

SEC Commissioner Hester Peirce, known as "Crypto Mom," has alerted the public to fraudulent activity on Telegram where scammers impersonate her to promote fake cryptocurrency schemes. The impersonators target investors, luring them into bogus projects with false promises.

Peirce clarified via social media that she does not use Telegram for private messages, urging vigilance. "The person claiming to be me is trying to scam people," she stated. The tactic mirrors common crypto frauds where bad actors exploit high-profile figures to lend credibility to scams.

Telegram’s privacy limitations exacerbate the issue, as users cannot fully block unsolicited messages. Public figures often avoid the platform or restrict access to mitigate risks. Peirce’s warning echoes broader concerns about impersonation scams in the crypto space.