BlackRock has issued a warning about a surge in investment scams targeting users of its Bitcoin and Ether exchange-traded funds. The asset management giant advised caution on July 29, stating that scammers are using its brand name to lure investors into dubious schemes.
Scammers typically impersonate BlackRock executives, using fake emails and phishing websites. They often contact victims via social media, offering lucrative deals and requesting payments through third-party channels.
BlackRock emphasized that all official employee emails end with “@blackrock.com” and that the firm never asks for payments in this manner. The warning comes as Bitcoin and Ethereum-based ETFs attract billions in investment, making them prime targets for fraud.
Impersonation scams are rampant in the crypto market, with reports indicating that crypto scams accounted for 50% of fraud reports in Belgium in early 2024.
