Fraud reports from the Federal Trade Commission (FTC) indicate that over $4 million has been lost to social networking scams nationwide in Q1 and Q2 of 2025.
Almost six thousand reports of social networking fraud were made over the six months, making it one of the most prevalent scam types. Each report resulted in an average loss of $696, with Florida exceeding this national average by 164%.
Florida saw $684,909 stolen across 373 reports, averaging a per-report loss of $1,836.
Social networking scams see fraudsters use social media platforms to steal money or personal information via DMs containing phishing links. These fake profiles ask for money while posing as a friend, or fake giveaways and competitions.
Recently, scammers on Discord promoted a fake online gaming site that urged crypto users to deposit $100 to claim a non-existent $2,500 bonus. Over the past month, TikTok users have also been warned about fraudulent shop domains that mimic the in-app e-commerce platform to exploit fake sales.
Consumers across the U.S. made 5,975 reports of social networking fraud between January and June this year, resulting in a total loss of $4,162,198. This works out to a national average per-report loss of $696.
Video game asset marketplace Chicks Gold’s says those browsing platforms like TikTok, Instagram, or Reddit are letting their guard down as scrolling is a relaxing activity that many use to unwind. Scammers look to take advantage of this downtime and exploit users, especially those who are unaware of the common tactics used to steal personal information and funds.
“Despite increased reporting of social networking scams and numerous official warnings from the affected platforms themselves, it’s clear that many consumers are still being duped by fraudsters and are losing tens of thousands of dollars each time,” said Al Alof, CEO of Chicks Gold.
