- A Christmas Eve press release claimed that Circle launched “CircleMetals” for tokenized Gold and silver swaps with USDC.
- “fake,” a Circle spokesperson said, and the promoted website has been taken down.
- Promotional material named tokens GLDC, SILC and a rewards token CIRM, none of which could be verified.
- Circle warned users on X to be cautious about wallet connections and to verify legitimacy.
A press release distributed on Dec. 24 announced a platform called CircleMetals, claiming 24/7 swaps between USDC and tokens for gold (GLDC) and silver (SILC) backed by COMEX-linked liquidity. The release offered 1.25% rewards in a token labeled CIRM and used Circle branding and quotations attributed to executives including Jeremy Allaire.
A Circle spokesperson called the release "fake." The website promoted by the release has since been taken down. The alleged tokens (GLDC, SILC, CIRM) were not found on major data aggregators and no evidence linked legitimate financial institutions to the offering.
The release was circulated through some crypto-focused PR channels and initially posted on a community forum that was later deleted. A PR agency, FinaCash, approached Chainwire with the story; a Chainwire spokesperson said the item was removed after compliance checks. The post included links to a swap interface that asked users to connect wallets.
"Please be alert and vigilant — verify the legitimacy of requests before taking action, especially when asked to connect your wallet. When in doubt, double-check," Circle advised on X.
Technical definitions: a stablecoin is a digital token intended to maintain a stable value, often pegged to a fiat currency. A token described as "tokenized" represents a real-world asset on a blockchain. A crypto wallet is software or hardware used to hold and manage cryptographic keys and authorize transactions.
Users are advised to avoid connecting wallets to unverified sites, as that action can permit malicious actors to transfer funds without consent.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
