- A counterfeit news article falsely promoted a “BlackRock Token” using Fox News reporter Eleanor Terrett’s name and likeness for credibility.
- The scam included AI-generated Fox News graphics and directed potential investors to a fake website for a bogus presale.
Fox News journalist Eleanor Terrett has recently spotlighted a sophisticated scam involving a counterfeit cryptocurrency token purportedly issued by BlackRock, the world’s leading asset management firm.
This scam utilized deepfake technology and the trusted Fox News brand to create an illusion of legitimacy, thus ensnaring unsuspecting victims.
The scam was brought to public attention through Terrett’s Tweet on X, where she clarified that her identity and the Fox News logo were misused to promote this fictitious “BlackRock Token (BRT).”
🚨PSA: There’s a fake article circulating using my name and official Fox graphics to promote a scam BlackRock token sale.
Please do not fall for this if you see it. 🙏🏼🙅🏼♀️ pic.twitter.com/VGsBHoFou5
— Eleanor Terrett (@EleanorTerrett) December 8, 2024
This fraudulent scheme promised groundbreaking opportunities in merging blockchain technology with traditional financial mechanisms. It claimed that the token would benefit from BlackRock’s vast resources, expertise, and standing in the financial world, misrepresenting the asset manager’s involvement in an innovative blockchain venture.
On December 5, the fabricated news piece appeared online, complete with AI-generated images that closely mimicked the aesthetic of genuine Fox News visuals. The article falsely stated that BlackRock had initiated a token presale and directed potential investors to a detailed, yet entirely fictitious, website named “BlackRockToken[.]net.”
This site offered extensive, albeit fabricated, information about the token, including purchase processes, token economics, and milestone achievements—none of which were real.
A Pattern of Fraudulent Claims
This is not the first instance where scammers have targeted high-profile financial figures or institutions to lend credence to their schemes. Similar tactics were used in previous scams involving other well-known entities and individuals in the financial and technology sectors.
For example, last year, a fake registration document was uploaded to the Delaware Division of Corporations website, alleging that BlackRock had registered an “iShares XRP Trust.” This document was later debunked by industry analysts and confirmed as fraudulent by BlackRock themselves.
In another instance, the Cardano Foundation’s account on platform X was compromised, promoting a nonexistent token called “ADAsol.” This scheme falsely claimed that the U.S. Securities and Exchange Commission had filed a lawsuit against Cardano, and that the foundation would cease its support for ADA.
Additionally, OpenAI CEO Sam Altman’s account was similarly hacked to advertise a sham token, misleading potential investors about an early access opportunity to future OpenAI programs through a dubious website.
These examples highlight a worrying trend of cybercriminals exploiting the reputations of established firms and high-profile individuals to orchestrate elaborate crypto scams. As blockchain technology permeates various sectors, the sophistication and frequency of such fraudulent activities have escalated, prompting calls for increased vigilance among potential investors and a reevaluation of digital security measures across vulnerable platforms.