Circle Exposes 'Fake' Platform Offering Tokenized Gold and Silver Swaps

A purported press release emerged on Christmas Eve, announcing the launch of CircleMetals, a platform allegedly from Circle, the issuer of the USDC stablecoin. The platform claimed to offer tokenized gold and silver trading, enabling 24/7 swaps between USDC and purported gold and silver tokens backed by COMEX-linked liquidity. However, a Circle spokesperson confirmed that the release and the platform are 'fake.' The release, which included Circle branding and quotes from executives, prompted users to swap on the platform in exchange for rewards in a mysterious token called CIRM. The website has since been taken down, and Circle has warned users to be vigilant and verify the legitimacy of requests before taking action, especially when connecting their wallets.