Larry

BlackRock

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<p dir="ltr">Financial behemoth BlackRock has issued a <a href="https://x.com/BlackRock/status/1817672808853377193">warning</a> about cryptocurrency-related scams on its social media account.&nbsp;</p>
<p dir="ltr">"We urge caution in dealing with individuals, websites or social media platforms using our brand and offering training or investments," BlackRock said.&nbsp;</p>
<p dir="ltr">BlackRock has stressed that it never contacts anyone through social media platforms.&nbsp;</p>
<h2 id="fake-domains-and-fake-filings">Fake domains and fake filings&nbsp;</h2>
<p dir="ltr">Last year, it took legal action against the owner of various fake domains that were impersonating the New York-headquartered company in order to defraud investors. Some of the bogus websites were related to crypto.&nbsp;</p>
<p dir="ltr">Last December, an XRP exchange-traded fund (ETF) called “BlackRock iShares XRP Trust” was submitted by a fraudster, pushing the price of the Ripple-affiliated altcoin significantly higher. BlackRock ended up issuing a statement that the filing was fake. &nbsp;</p>
<h2 id="from-a-tool-for-money-laundering-to-a-legitimate-investment">From a tool for money laundering to a legitimate investment&nbsp;</h2>
<p dir="ltr">During a recent CNBC interview, BlackRock CEO Larry Fink said that he views Bitcoin as a "legitimate'" investment. In 2017, Fink dismissed the largest cryptocurrency as merely a tool for money laundering.&nbsp;</p>
<p dir="ltr">In January, BlackRock launched a highly successful Bitcoin ETF. Earlier this month, the company's Ethereum ETF also went live, significantly outperforming competing ETF products.&nbsp;&nbsp;</p>
<h2 id="crypto-scams-are-still-rampant">Crypto scams are still rampant&nbsp;</h2>
<p dir="ltr">According to data provided by the Federal Bureau of Investigation (FBI), cryptocurrency investment scams resulted in nearly $4 billion worth of losses last year in the US.</p>
<p dir="ltr">The rise of generative <a href="https://u.today/ethereums-buterin-reveals-genius-hack-to-beat-deepfakes">AI</a> makes it easier for scammers to create convicting deepfakes in order to defraud crypto investors.&nbsp;</p>

BlackRock Issues Major Crypto Warning

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