During the COVID-19 pandemic, there was not only a global health crisis, but also an overload of information, much of it erroneous or malicious, which favored the emergence of a parallel pandemic of false memories. Memory, understood as a reconstructive process, was particularly vulnerable to the effects of misinformation, cognitive biases, and emotional and social context. The massive dissemination of false news, both by mistake (misinformation) and intentionally (disinformation), was intensified by the use of social networks, the repetition of content, and the trust in sources, which increased the acceptance of inaccurate information as true. In addition, individual factors such as age, thinking style, actual knowledge about COVID-19, or emotional factors such as anxiety or depression influenced the propensity to recall and share false information. Although many of these false memories reveal the fragility of memory, others played an adaptive role by helping individuals reinterpret the past more positively, recall pleasant experiences, or envision a near future with better prospects, thus supporting psychological balance and well-being. Finally, the need to promote critical thinking and media literacy as prevention mechanisms is highlighted.