Beware: A Fake Cryptocurrency Exchange Platform Has Emerged – Users Should Stay Away

A press release published today claimed that Circle, the issuer of the USDC stablecoin, has launched a new platform called “CircleMetals” offering tokenized gold and silver trading. However, according to a statement from the company, these claims are untrue.

A press release issued on December 24th claimed that the platform offered 24/7 swap between USDC and so-called gold (GLDC) and silver (SILC) tokens, with transactions supported by COMEX-linked liquidity. It also asserted that users would earn a “1.25% CIRM reward” for swapping. However, it was reported that the CIRM token in question was not listed on big data platforms and could not be verified.

The website used in the press release invites users to connect their wallets. Experts warn that connecting wallets to unverified sites could lead to malicious actors draining assets. The press release features Circle branding and quotes executives, including CEO Jeremy Allaire.

The company’s clear statement read, “It has been confirmed that this is not true.” While the site is still accessible, there is no credible evidence of the existence of the GLDC and SILC tokens, or of any legitimate financial institution being involved in the project.