BlackRock warns investors about a rise in crypto scams targeting its iShares Bitcoin and Ether ETFs, urging caution against social media impersonators.
BlackRock, the New York-based asset management giant, has alerted investors to a surge in crypto scams targeting its iShares spot Bitcoin and Ether exchange–traded funds (ETF) investor base. The company issued a warning against social media impersonators.
On July 29, BlackRock advised investors to be cautious of individuals or businesses posing as BlackRock representatives on social media, often luring victims with offers of training or investments. The warning stated:
“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.”
Scammers Increasingly Target Bitcoin ETF Investors
Scammers impersonating BlackRock are actively targeting crypto ETF investors through social media platforms. Users are reminded that BlackRock never contacts individuals through social media to demand payments or offer investments.
BlackRock Attracts Major Bitcoin Investment
BlackRock’s iShares Bitcoin Trust (IBIT) has attracted $19.7 billion in Bitcoin in roughly seven months since its launch on January 11. It currently leads in total inflows, managing more assets than all nine other United States-approved spot BTC ETF providers combined.
Summary Review: BlackRock’s warning highlights the need for vigilance among investors as scammers become more sophisticated in their tactics. By staying informed and cautious, investors can protect themselves from falling victim to these schemes. For a deeper understanding of how BlackRock’s Bitcoin ETF works and its benefits, check out WEB30NEWS’s detailed guide.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
