I started reading this picture someone that's maybe 18 years old and thinking it's pretty bad but then I read 28 and yikes...

There's being naïve, depressed or lonely but this is something else entirely. This is a level of self delusion that may very well disqualify her from being a functioning adult. I don't think there's something you can really do to solve that, even if she somehow avoids this pit she'll just find another to throw herself at.

If you're a really selfless friend then tell her family, knowing she may even cut you off, but I think it's probably the best you could do for her.