Discover the crypto universe in depth

Delaware Authorities Hand Over Fake XRP ETF Case to DOJ

Delaware Authorities Refer Fake XRP ETF Case to DOJ

  • The Delaware authorities have referred the case of the fake iShares XRP Trust entity from BlackRock to US law enforcement agencies.
  • A few days ago, a misleading statement involving BlackRock in the creation of an XRP ETF caused a stir in the crypto sphere.
  • The fraudulent announcement immediately triggered a price increase in XRP.

A Look Back at a Deceptive Recording Involving BlackRock

Recently, a false statement claiming the creation of an entity called ‘iShares XRP Trust’ was filed, mistakenly implicating asset management company BlackRock. The fake filing, registered in Delaware, imitated the information from BlackRock’s previous ETF filings, specifically the ‘iShares Bitcoin Trust’ and the ‘iShares Ethereum Trust’.

This statement, quickly picked up by XRP users and ETF experts, led to a temporary 12% increase in the price of XRP within a matter of minutes.

However, BlackRock quickly denied registering such an entity.

Case in the Hands of Law Enforcement

In response to this situation, the Delaware authorities have taken appropriate action. Rony Baltazar-Lopez, Director of Policy and Communications at the Delaware Department of State, confirmed that the case has been referred to the Delaware Department of Justice (DOJ).

Now, it is up to the authorities to decide whether to investigate this case or not.

Ultimately, this move highlights the seriousness of the incident and the importance of transparency and truthfulness in financial statements, especially in the volatile world of cryptocurrencies.

Related Posts