Fox News Journalist Exposes Fake BlackRock Token Scam

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As a seasoned crypto investor with a knack for sniffing out scams like a bloodhound on the hunt, I can’t help but shake my head at the audacity of these con artists. The recent attempt to dupe unsuspecting investors using Eleanor Terrett and Fox News graphics is just another chapter in the never-ending book of cryptocurrency fraud.

Fox News reporter Eleanor Terrett has warned of a deceptive news article circulating online.

The media outlet falsely publicized a fraudulent scheme, using her name and Fox News visuals for a fictitious BlackRock digital coin.

The Fraudulent Piece

Terrett raised the alarm on X, stating:

A misleading piece is being shared, falsely attributed to me and featuring Fox Network visuals, with the intention of swindling people by promoting a fraudulent BlackRock cryptocurrency offering.

Additionally, she advised users to stay alert towards potential scams. A snapshot she posted showed information derived from the article.

On December 5, a misleading statement was published, asserting that BlackRock, the global leader in asset management, had initiated a pre-sale for a digital token called “BlackRock Token” (BRT). This fabricated report portrayed this non-existent token as a pioneering move to incorporate blockchain technology within conventional finance.

Additionally, it encouraged readers to explore a seemingly legitimate site, “BlackRockToken.[net],” for pre-sale participation. This website was said to contain comprehensive project details such as purchasing instructions, token economics explanations, uses of the token, and progress reports on claimed achievements.

The post included promotional claims highlighting the “BlackRock Advantage,” describing the token as a testament to BlackRock’s leadership in financial innovation. It claimed that the initiative leverages the firm’s resources, expertise, and commitment to deliver exceptional value to investors, positioning the project as a blend of traditional finance and blockchain’s potential.

The bogus news story sought to deceive people by using a computer-generated image that mimicked the style of Fox News graphics, as well as falsely claiming authorship by Eleanor Terrett and FOX Business.

Previously, incidents like this one weren’t new to BlackRock. Last year, on November 13, a fake filing was posted on the Delaware Division of Corporations website stating that BlackRock had established an “iShares XRP Trust.” However, Eric Balchunas, an analyst at Bloomberg ETF, later verified with the company that the document wasn’t genuine.

Similar Exploits

As a researcher examining the landscape of cybercrimes, I’ve noticed an escalating pattern of scams and hacks focusing on prominent cryptocurrency platforms and personalities. On December 8th, I found myself in the midst of this trend when the X account of the Cardano Foundation fell victim to an attack, using it to peddle a fraudulent token called “ADAsol.

Misleading reports circulated, suggesting that the U.S. Securities and Exchange Commission (SEC) had initiated a legal action against Cardano, and further claiming that the Cardano Foundation would discontinue its backing of ADA.

In a similar fashion, last September saw the disclosure through a Bloomberg report that the account of OpenAI’s CEO, Sam Altman, labeled as ‘X’, had been unlawfully used to peddle a fictitious cryptocurrency dubbed “$OPENAI.

The sham post, filled with errors such as referring to the token as “$OPEANAI,” encouraged users to connect their wallets to a phishing website with a misleading URL, “token-openai[.]com.” The site promised early access to future OpenAI beta programs, preying on unsuspecting users eager to benefit from the nonexistent cryptocurrency.

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2024-12-09 23:16