BlackRock, the world’s largest asset manager, has issued a warning about a rise in crypto investment scams following the launch of its Spot Ethereum ETF on July 23. The firm, which manages $10.6 trillion in assets, noted a spike in fraudsters using its name to deceive potential investors.
In a post on X, BlackRock stated that neither the company nor its executives solicit investments via social media. Scammers often impersonate BlackRock employees and use platforms like WhatsApp and Telegram to create a sense of urgency.
The warning highlights the sophisticated tactics used by scammers, including phishing websites, fake documentation, and social engineering. This surge in scams is particularly concerning given the increased interest in BlackRock’s new Ethereum and Spot Bitcoin ETFs.
