The Intel ivy bridge processors have not been released yet.
So it seems you have either a counterfeit processor or an engineering sample processor, I would suggest contacting the place of purchase for refund or exchange.
In order to determine if you have an engineering sample processor, check on top of the processor if it says “Intel Confidential” or Engineering Sample (ES).
Doesn't look like an engineering sample to me, nor counterfeit. On some Z68 motherboards, the multiplier is stuck at 38 max. Z77 motherboards will allow you to overclock past 3.8. Z68 will be able to eventually come new BIOS updates.