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The Indian FinTech sector registered a significant growth amidst the COVID-19 pandemic. This also triggered the emergence of 'finfluencers' (short for financial influencers) who provided financial education through social media. The changing investment habits especially after the pandemic, growing penetration of smartphones, affordable data plans, new-age broking firms (with easy-to-use apps), and ease of making digital payments 24/7, had attracted considerable chunk of retail investors on the Indian bourses (33% in FY2016 to 45% in FY2021). In such a situation, finfluencers, mostly unregistered with the market regulator, used social media platforms to share advice, opinions, and personal experiences regarding money management. However, the social media platforms paid them and often influenced and affected their audiences' decision-making criteria, posing the risks of potential scams and losses. In such a situation, the key question that surfaced was whether the regulator would clear the murky waters of influencers in India?