Circle Denounces 'Fake' Platform Offering Tokenized Precious Metals

A recently distributed press release announced the launch of CircleMetals, a platform allegedly offering 24/7 tokenized gold and silver swaps, but Circle has confirmed this to be false. The release, which utilized Circle's branding and quoted executives, claimed to introduce a service enabling swaps between USDC and gold (GLDC) and silver (SILC) tokens. However, Circle has denied any involvement, and the website promoting this service has been taken down. The platform had asked users to connect their wallets, raising concerns about potential wallet drainage by malicious actors. An investigation found no evidence of the existence of GLDC or SILC tokens or the involvement of any legitimate financial institution. Circle has warned users to be cautious and verify the legitimacy of requests, especially when connecting wallets.