Happycoin.club - Major asset manager BlackRock on Monday reported an increase in cryptocurrency fraud, which company analysts say is linked to the launch of digital asset-based exchange-traded funds.
Experts cited an example of a situation where attackers, posing as BlackRock employees, directed unsuspecting users to sites dedicated to cryptocurrency investments. Criminals contacted potential victims through popular instant messengers and social networks.
There has been an uptick in investment-related scams, including redirecting users to cryptocurrency investment websites and/or popular messaging platforms.
"We urge caution when communicating with individuals, websites or social media platforms using our brand," the investment firm said in a statement.
BlackRock is the issuer of two of the largest exchange-traded funds based on Bitcoin and Ethereum. The spot Bitcoin ETF, launched in January 2024, has already raised more than $19.7 billion in Bitcoin. It ranks first among other 11 investment products based on the leading cryptocurrency.
BlackRock's recently launched Ethereum ETF has also become a key player in its category. Since the start of trading, iShares Ethereum Trust (ETHA) has recorded an influx of more than $442 million.
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