How to Deal with False Rumors Spreading Around Campus?

I’m dealing with a situation where a few people in first-year seem to be spreading misinformation about me and some of my friends (and probably others too). Normally, I wouldn’t be too affected, but the accusations they’re making are very serious, completely false, and have been damaging my reputation all over UTM.

Honestly, it’s causing a lot of stress and social anxiety. I’m considering reporting them, but I’m unsure if that’s the right move, or if it could make things worse. I’m really just looking for advice on how to handle this. Should I report it, or is there another way to approach the situation?