BlackRock has filed a complaint with US law enforcement regarding a fake application to launch an ETF based on Ripple’s XRP token. This is reported by CoinDesk.
According to the jurisdiction’s website, there are seven steps required to create a new legal entity by filling out PDF forms online. The attacker apparently found and used the details of BlackRock Managing Director Daniel Schwieger to register the trust.
If XRP was involved in the scam, the police may classify the incident as fraud.
Fake news about BlackRock filing documents for the iShares XRP Trust spread on the morning of November 14th. At that moment, the coin’s quotes soared by 15% in 30 minutes, but then returned to previous levels after a refutation.
At the time of writing, the asset rate had dropped to $0.6285.
Bloomberg stock analyst James Seyffart noted that for some unknown reason, some community members denied that BlackRock’s application was fake.
For the strange section of crypto twitter that believes we and everyone else are wrong about the Blackrock / iShares XRP trust being a false filing: pic.twitter.com/7lXOywLKTN
— James Seyffart (@JSeyff) November 14, 2023
On October 24, BlackRock’s proposed spot Bitcoin ETF, the iShares Bitcoin Trust, appeared on DTCC’s list of assets for which the company provides post-trade, clearing and settlement services.
Later, the exchange-traded fund position disappeared from the platform’s website. Reporter Colin Wu, citing unnamed analysts, said the Commission may have contacted BlackRock, “asking them to wait.” As a result of the news, the Bitcoin rate fell to $33,500.
On October 16, cryptomedia Cointelegraph published a post in X about the approval of a spot Bitcoin ETF from BlackRock. Against the backdrop of the news, the rate of the first cryptocurrency quickly jumped to $30,000, but fell just as quickly after reports of a fake.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
