Fake Tokenized Metals Platform
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Fake Tokenized Metals Platform
A fraudulent press release circulated on Christmas Eve falsely claimed that Circle, the issuer of USDC, had launched a new platform called “CircleMetals” offering tokenized gold and silver swaps. The release used Circle’s branding and attributed quotes to company executives, including CEO Jeremy Allaire, but Circle later confirmed the announcement was entirely fake.
According to reporting by CoinDesk, the bogus platform promised 24/7 swaps between USDC and alleged gold (GLDC) and silver (SILC) tokens, along with rewards paid in an unverified token called CIRM. No evidence was found that any of these tokens exist or that legitimate institutions were involved.
The website encouraged users to connect their wallets—an action that carries serious security risks on unverified sites. Circle has since warned users publicly to remain vigilant and verify all crypto-related announcements before taking action.
