Two years have passed since television personalities Jeremy Clarkson and James May were forced to publicly deny any involvement in cryptocurrency endorsements — but the incident they spoke out against remains a vivid example of a growing and dangerous trend in online fraud.
In March 2024, paid-for advertisements began circulating on social media platform X, falsely linking the former Top Gear presenters to cryptocurrency schemes and retirement planning investments. The ads, which appeared to carry the credibility of two of Britain’s most recognisable television faces, were entirely fabricated. Neither man had given their consent, and neither had any connection to the products being promoted.
James May was the first to speak publicly, telling his followers on X that his face had been appearing in scam posts about cryptocurrencies and retirement planning — and that it was “all balls.” His advice to anyone tempted by such schemes was characteristically blunt: ignore them and go to the pub instead.
Clarkson then joined the thread, writing: “To be clear. James May and I are not endorsing any kind of cryptocurrency. I don’t even know what cryptocurrency is. But it sounds ghastly.” May also clarified that fellow former Top Gear presenter Richard Hammond was equally uninvolved, noting that the scammers had taken things well beyond ordinary grifting.
The scam had directed users to a fake BBC article — a technique designed to exploit public trust in reputable news organisations. May later told The Telegraph that the scheme amounted to fraud and expressed frustration at not receiving a response from X after reporting it.
The incident was far from isolated. One woman lost £40,000 to a Bitcoin scam that similarly exploited a celebrity’s image without their knowledge. The mechanics of these operations follow a familiar pattern: organised criminals attach the faces of well-liked public figures to fabricated investment opportunities, preying on public trust to lure in victims seeking quick financial returns.
The scale of the problem is staggering. Six thousand people across the UK, Europe, and Canada were targeted in a single crypto fraud campaign that used deepfake videos of celebrities including financial expert Martin Lewis, DJ Zoe Ball, and adventurer Ben Fogle. The combined losses totalled £27 million. Among the victims was a retired NHS doctor in her seventies who lost around £50,000.
NatWest’s annual Celebrity Scam Super League ranked Martin Lewis as the most exploited public figure in fraud, with one victim losing £150,000 to a cryptocurrency investment scam featuring a fake endorsement from the money expert. Jeremy Clarkson also appeared on the same list, a testament to how persistently criminals recycle trusted faces.
Action Fraud data revealed that victims reported losing over £20 million to scams falsely featuring Martin Lewis in just two years. Financial experts warn the problem is only getting worse as artificial intelligence enables increasingly convincing deepfake videos that are difficult for ordinary viewers to identify as fake.
The advice from authorities and those targeted alike is consistent: treat any online advertisement featuring a celebrity endorsing an investment with immediate suspicion. Legitimate investments carry risk, not guaranteed returns — and no credible financial figure will ever appear in an unsolicited social media ad promising otherwise.
For Clarkson and May, two years on, their message remains as relevant as ever. Cryptocurrency may sound ghastly to one of them. For the criminals behind these schemes, however, the celebrity faces of trusted public figures are very much open for business — whether those individuals like it or not.
