BlackRock confirms that there is no social media investment solicitation

American multinational investment giant BlackRock has recently reported a significant increase in investment-related scams, particularly those that direct individuals to crypto investment websites or social media platforms such as WhatsApp and Telegram .

The company has cautioned its investors when engaging with individuals, websites or social media platforms that use the BlackRock brand to offer training or investment opportunities.

BlackRock warns investors

In its official update on July 29, BlackRock said that the asset management giant and its executives never contact people through social media platforms to propose investments or request payments .

“BlackRock and our company executives never contact anyone via social media platforms (including WhatsApp and Telegram) with investment offers or to request payments of any kind. Please keep monitoring and if you suspect fraudulent activity, do not continue.”

BlackRock has captured a significant share of trading volume among the 11 Bitcoin spot ETFs launched in January. Its spot Ether ETF has also performed well so far. This positioned BlackRock’s dominance in the crypto space.

In a recent interview with Bloomberg’s James Seyffart, BlackRock’s head of digital assets, Robert Mitchnick, noted that the asset manager’s institutional investors and wealth advisory services continue to gain momentum. He even said that direct customer demand has been the main catalyst for this drive.

As a result, the growing demand for BlackRock funds has unfortunately attracted scammers who prey on unsuspecting investors through a variety of deceptive tactics.

BlackRock’s growing funds attract fraudsters

Scams often involve phishing websites impersonating legitimate BlackRock platforms, with the goal of stealing personal and financial information.

In addition, scammers impersonate BlackRock employees and contact potential victims via email or social media to offer fake investment opportunities. These fraudulent schemes exploit the high interest in BlackRock’s successful ETFs, taking advantage of investors’ enthusiasm to perpetrate their crimes.

Tactics used by scammers also include using social media for purported training programs, fake email addresses, and forged documents imitating genuine BlackRock materials. They also use time pressure techniques, social engineering and spoofing to create a sense of urgency and legitimacy.

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