We found the amount of cases reported to police has rocketed by 390% in two years.
Experts believe up to 100 children per day are falling victim to these sextortion scams.
Some youngsters have killed themselves after being targeted.
Sean Sutton, a senior officer at the National Crime Agency's threat leadership command, said: "A lot of the victims feel culpable. Our message is, 'You have done nothing wrong! "Even the smartest of people have been tricked by these awful offenders.... It's a hideous crime.
They have no concern for victims.
"They are intent on destroying lives, or saying they will." The agency's child sexual abuse threat team told the Mirror that financially motivated sexual extortion of children is increasing and targets all social media apps. Our analysis of police crime reports obtained through Freedom of Information requests shows criminals scour a wide range of platforms, including Facebook and TikTok, to target children. The apps most often used are Snapchat and Instagram.
Criminal gangs, often based abroad, create fake identities using stolen photos to befriend people.
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