BlackRock Alerts Investors Against Rising Crypto Scams Targeting Bitcoin and Ether ETF Holders
Asset management titan BlackRock has sounded the alarm on a surge in crypto scams aimed at investors in its iShares spot Bitcoin and Ether ETFs.
In a recent post on X, the company cautioned against engaging with social media impersonators pretending to be BlackRock representatives.
The alert specifically advises investors to steer clear of any social media interactions with entities posing as BlackRock.
“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,” the company said.
BlackRock’s statement highlights the growing prevalence of investment-related scams, which frequently direct users to fraudulent crypto investment websites or social media platforms such as WhatsApp or Telegram.
The increase in scams targeting Bitcoin ETF investors is particularly concerning.
These scammers are exploiting social media to impersonate BlackRock and deceive ETF investors.
BlackRock emphasized that it never contacts users via social media to solicit payments or offer investment opportunities.
“Please remain vigilant and if you suspect fraudulent activity, do not proceed.”
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. We urge caution in dealing with individuals, websites or social media platforms using our brand and…
— BlackRock (@BlackRock) July 28, 2024
Since its launch on January 11, BlackRock’s iShares Bitcoin Trust (IBIT) has amassed $19.7 billion, making it the leader in total inflows among U.S.-approved spot Bitcoin ETF providers.
The fund’s rapid growth underscores its prominence in
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