Financial giant BlackRock has issued a warning about the rise in investment-related scams, including fraudulent crypto investment websites and social media platforms. The company urges caution and vigilance.
Points
- BlackRock warns about an increase in investment-related scams.
- Scammers use the BlackRock brand to promote fake crypto investments.
- Legal action has been taken against fraudulent websites impersonating BlackRock.
- BlackRock’s CEO Larry Fink recognizes Bitcoin as a legitimate investment.
- FBI data shows nearly $4 billion in losses from crypto scams in the US last year.
New York-based financial giant BlackRock has recently issued a warning about a rise in investment-related scams, particularly those involving fraudulent crypto investment websites and social media platforms. The company urges individuals to exercise caution when dealing with websites or platforms using the BlackRock brand to offer training or investments.
The Warning from BlackRock
In a statement, BlackRock highlighted a spike in scams where individuals are directed toward crypto investment-related websites and social media platforms such as WhatsApp or Telegram. These scams often misuse the BlackRock brand to gain credibility and deceive investors. The company has taken legal action against the owners of several fake domains that impersonated BlackRock to defraud investors. Some of these fraudulent websites were specifically related to cryptocurrency investments.
“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 offering training or investments,” BlackRock stated.
Legal Actions and Past Incidents
Last December, BlackRock was involved in a notable incident where a fraudster submitted a fake XRP exchange-traded fund （ETF） filing called “BlackRock iShares XRP Trust.” This fraudulent filing pushed the price of Ripple-affiliated altcoin significantly higher. BlackRock quickly issued a statement to clarify that the filing was fake.
Larry Fink’s View on Bitcoin
Despite these scams, BlackRock CEO Larry Fink has recognized Bitcoin as a legitimate investment. This marks a significant shift from his earlier stance in 2017 when he dismissed Bitcoin as merely a tool for money laundering. BlackRock’s involvement in the cryptocurrency market has grown, with the company launching a highly successful Bitcoin ETF earlier this year and an Ethereum ETF that went live recently.
The Rising Threat of Crypto Scams
According to data from the Federal Bureau of Investigation （FBI）, cryptocurrency investment scams resulted in nearly $4 billion worth of losses in the US last year. The rise of generative AI has made it easier for scammers to create convincing deepfakes, further complicating efforts to protect investors.
Conclusion
BlackRock’s warning underscores the increasing threat of investment-related scams in the cryptocurrency space. Investors are urged to exercise caution and verify the legitimacy of any investment opportunities, especially those involving the BlackRock brand. Staying informed and vigilant is crucial in navigating the complex and often risky world of crypto investments.
解説
- BlackRock has issued a warning about the rise in investment-related scams, particularly those involving cryptocurrency.
- The company has taken legal action against fraudulent websites impersonating BlackRock to deceive investors.
- BlackRock CEO Larry Fink now recognizes Bitcoin as a legitimate investment, reflecting a significant shift in his stance.
- FBI data shows that cryptocurrency investment scams resulted in nearly $4 billion in losses in the US last year.
- Investors should remain cautious and verify the legitimacy of any investment opportunities, especially those using the BlackRock brand.