Friends set up a GoFundMe page to raise money for his funeral, with any remaining money to be donated to a mental health charity.
The page had raised nearly £5,000 of its £25,000 target with stars including Jack Fowler and Kerry Katona urging fans to donate.
An updated message on the site reads: “While this particular page was created by his close friends, [Thalassitis' family] are concerned that fraudulent accounts could be activated by strangers using their name. Therefore, please do not donate to any other pages until an official statement has been made by the immediate Thalassitis family within the next week or so.”
Fans were assured that the money raised to date will go “directly to the family” who will open a new page.
The update continued: “All proceeds will then be consolidated and donated to a mental health charity of their choice.”
A spokesperson for GoFundMe told Standard Online: “Our thoughts are with Mike's family and friends at what must be a very difficult time. They can rest assured that on GoFundMe no funds would ever be released unless we are absolutely confident they will get to the right beneficiary.”
The Metropolitan Police confirmed there are no suspicious circumstances surrounding his death.
The GoFundMe page was initially set up to help the family with the funeral costs after Thalassitis died days after his grandmother who he had been caring for.
The description read: “Mike’s family are hardworking people experiencing a time of intense pain and suffering. Accordingly we are asking for all of your help so that they do not have to face anything alone.”
Thalassitis was on Love Island in 2017. His co-star and friend Montana Brown said he sought therapy in 2018 after struggling to cope with dwindling job opportunities.
ITV revealed the aftercare Love Island contestants receive on leaving the show has been overhauled to offer therapy, social media training and financial advice, after a slew of stars criticised the broadcaster.
Dom Lever, Megan Barton Hanson and Jonny Mitchell, who started a petition for the overhaul, were among those who complained.