BlackRock Issues Stark Warning Against Crypto Scams

In the aftermath of BlackRock's recent Spot Ethereum ETF launch on July 23, the world's largest asset manager has issued a stern warning about a rise in crypto investment-related scams.

As part of its warning, BlackRock highlighted the impersonation of its executives by fraudsters in an attempt to legitimize their scams. The company stated, “BlackRock executives, including CEO Larry Fink, do not personally reach out on social media to offer investment opportunities.”

Moreover, the asset manager noted that its employees are prohibited from soliciting investments or payments through social media, email, or phone calls. The organization stressed, “Any such activity claiming to be from BlackRock is fraudulent.”

BlackRock also provided guidance on identifying potential scams, advising investors to be skeptical of any unsolicited investment offers, especially those promising high returns with low risks. Additionally, the company urged people to avoid clicking on suspicious links or providing personal information to unknown parties.

Finally, BlackRock encouraged its clients and the public to report any suspected fraudulent activity to the relevant authorities and the company itself.

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