Scammers Make Millions Selling Nonexistent Ozempic, Report Finds

Weight-loss drugs are in high demand, and scammers are cashing in on the craze.

Phishing attempts involving popular GLP-1 drugs—like Ozempic, Wegovy and Mounjaro—were up 183 percent in the first four months of 2024 compared to the final three months of 2023, according to new research from the online protection company McAfee.

McAfee researchers uncovered 449 risky website URLs and 176,871 dangerous email phishing attempts. The company estimates that in the past few months, weight-loss drug scammers have made millions of dollars through the instant messaging platform Telegram alone.

The fraudulent sale schemes can take many forms. On Facebook Marketplace, scammers use fake profiles to offer up their “extra” GLP-1 supply or “substitutes” from overseas that don’t require prescriptions. During a 24-hour observation in April, McAfee researchers found 207 Ozempic scam posts on Craigslist.

Swindlers can be found posing as doctors on social media platforms, promising to provide Mounjaro without a prescription—so long as patients can pay through Zelle, Venmo, CashApp or Bitcoin. One fake website offered a 15 percent discount to anyone paying with cryptocurrency.

Requests for unconventional payment methods should always raise red flags, according to McAfee. But scams aren’t always easy to spot, as many fraudulent campaigns are using advanced AI to appear credible.

Plus, consumers are eager to get their hands on the popular drugs, which celebrities have touted for their weight-loss benefits. Although Ozempic has become synonymous with slimness, the FDA has only approved it as a treatment for type 2 diabetes. While some physicians prescribe Ozempic off-label, only three GLP-1s have been green-lighted by the FDA for weight management: Saxenda, Wegovy and Zepbound.

More than 1 million GLP-1 prescriptions are filled per week, costing patients upward of $1,000 per month, according to McAfee. The drugs are so popular that their makers, Novo Nordisk (Ozempic) and Eli Lilly (Zepbound), have become the world’s most valuable pharmaceutical companies. This month, J.P. Morgan Chase’s asset management unit closed on a $500 million biotech venture-capital fund that will focus on weight-loss drugs: its top three choices are “obesity, obesity and obesity,” Steve Squinto, the company’s chief investment officer, told Bloomberg June 13.

Weight-loss drugs are prime targets for scammers because they’re both elusive and desirable, Abhishek Karnik, head of McAfee’s Threat Research Team, told Newsweek.

“When a surge in consumer demand for a product like Ozempic intersects with supply shortages, scammers see a golden opportunity,” Karnik said.

People can lose thousands of dollars per transaction when purchasing unverified drugs through unauthorized sellers, only to receive a counterfeit product—or nothing at all.

“These sites promise weight-loss drugs at a discounted price, without prescription or delay, which could be tempting for many,” Karnik said. “However, instead of the medication you’re hoping for, you’ll be opening yourself up to money loss and data and identity theft. When it comes to avoiding these types of drug scams, the safest decision is to purchase from a reputable medical provider or pharmacy that requires a prescription.”

Fake Ozempic is a problem for health care professionals, too. In December, the FDA reported counterfeit Ozempic in the “legitimate U.S. drug supply chain,” warning wholesalers, pharmacies, practitioners and patients to double-check their product’s lot and serial numbers. The administration seized thousands of units of fake product—which was also packaged with counterfeit needles that may not have been sterile.

The FDA encourages health care professionals and patients to report adverse effects or quality issues through its MedWatch Adverse Event Reporting Program. And as scams wear on, Karnik asks cybersecurity companies and health care organizations not to turn a blind eye.

“Combating these threats requires a combination of technology safeguards, consumer caution and education,” Karnik said. “Cybersecurity companies must continue to develop technologies that protect consumers from sophisticated, AI-powered scams and get the word out when they spot a spike in a particular scam type. Similarly, health care professionals should educate their patients on medication safety, and consumers should exercise caution and approach medical deals with skepticism.”