Fraudulent 'CircleMetals' Platform Impersonating Circle Exposed as Fake

2025-12-24 20:20:10

Source: CryptoNewsNet Original Title: Circle platform promising tokenized gold, silver swaps is ‘fake,’ company says Original Link: https://cryptonews.net/news/security/32186225/ A press release published on Christmas Eve claimed that Circle, the issuer of the USDC stablecoin, had launched a new platform offering tokenized gold and silver trading.

However, it is “fake,” a Circle spokesperson confirmed.

The platform, launched under the name CircleMetals, was promoted through a press release distributed on Dec. 24, a date when many U.S. businesses are closed or operating at limited capacity, and response times are slower.

The release described a new service enabling 24/7 swaps between USDC and purported gold (GLDC) and silver (SILC) tokens, supposedly backed by COMEX-linked liquidity. Oddly, it prompted users to swap on the platform and receive “1.25% in $CIRM rewards.” The CIRM token could not be verified and doesn’t appear to be listed on major data aggregators.

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