The rise of micro-videos has reshaped how misinformation spreads, amplifying its speed, reach, and impact on public trust. Existing benchmarks typically focus on a single deception type, overlooking the diversity of real-world cases that involve multimodal manipulation, AI-generated content, cognitive bias, and out-of-context reuse. Meanwhile, most detection models lack fine-grained attribution, limiting interpretability and practical utility. To address these gaps, we introduce WildFakeBench, a large-scale benchmark of over 10,000 real-world micro-videos covering diverse misinformation types and sources, each annotated with expert-defined attribution labels. Building on this foundation, we develop FakeAgent, a Delphi-inspired multi-agent reasoning framework that integrates multimodal understanding with external evidence for attribution-grounded analysis. FakeAgent jointly analyzes content and retrieved evidence to identify manipulation, recognize cognitive and AI-generated patterns, and detect out-of-context misinformation. Extensive experiments show that FakeAgent consistently outperforms existing MLLMs across all misinformation types, while WildFakeBench provides a realistic and challenging testbed for advancing explainable micro-video misinformation detection. Data and code are available at: https://github.com/Aiyistan/FakeAgent.

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