The highest bidder in an on-line auction was due to receive 15 minutes of one-to-one coaching from India batting great Tendulkar before walking out to the middle at Lord's to face an over from Australia leg-spin legend Warne, the world's leading Test wicket-taker during the break between innings of the match between MCC and an International XI.
However, in a statement on Tuesday, MCC said the auction, which was arranged in conjunction with Internet site e-bay, had seen its highest bids come from hoaxers.
As the auction closed on Saturday, MCC said there was insufficient time to arrange a replacement with the highest legitimate bidder.
"It's disgraceful that people could behave in this way," MCC secretary Roger Knight said.
"We were delighted when Shane Warne and Sachin Tendulkar agreed to to stage this unique event.
"I'm very sorry that, because of the hoaxers, their goodwill has been wasted and a tremendous fundraising opportunity lost."
On December 26 last year a tsunami tidal wave which affected coastlines throughout the Indian sub-continent caused the deaths of hundreds of thousands as well as massive destruction of homes and property.