NEW YORK, Friday, August 02, 2024 – BlackRock has issued a stern warning about a surge in cryptocurrency scams targeting investors in its iShares spot Bitcoin and Ether ETFs.
The asset management giant advised investors to be wary of social media impersonators posing as BlackRock representatives.
One report said that scammers are increasingly using platforms like WhatsApp and Telegram to lure investors into fraudulent crypto investment schemes.
“There has been a spike in investment-related scams, including directing users toward crypto investment-related websites and/or social media platforms such as WhatsApp or Telegram,” BlackRock said in an X post.
“We urge caution in dealing with individuals, websites or social media platforms using our brand and offering training or investments. BlackRock and our firm’s executives never contact anyone through any social media platforms (including WhatsApp and Telegram) with investment offerings or to solicit payment of any kind.
“Please remain vigilant and if you suspect fraudulent activity, do not proceed,” the post on Platform X by BlackRock said.
BlackRock emphasized that it never contacts users through social media for payments or investment opportunities.
The company’s iShares Bitcoin Trust has garnered significant attention, amassing $19.7 billion since its launch in January. Despite its success, BlackRock remains cautious about expanding its ETF offerings to other cryptocurrencies due to concerns over maturity, liquidity, and regulatory clarity.
BlackRock had given this link for more information.
