Circle Issues Warning About Scammers Poaching USDC Users

The company that created the USDC stablecoin, Circle, has issued a warning about an ongoing phishing campaign that aims to trick users into sending tokens to fraudulent addresses.

According to the tweet, the threat actors pretended to work for Centre, a group that Coinbase and Circle founded.

Circle said there is no new version of the USDC token in the marketplace and urged users not to fall for the scam.

“PSA WARNING: There is an active phishing campaign attempting to lure users into transferring #USDC tokens to malicious addresses. The scammers are pretending to be from Centre. There is not a new version of USDC in the marketplace. Please do not fall for this.”

In a recent letter to Congressional leaders for financial services, Circle CEO and founder Jeremy Allaire urged for clear, workable legislation on stablecoins in the United States and cautioned that failure to do so would bring more risks to the nation.

Continual phishing scams

On the other hand, during the bear market, phishing activity was prominent. The most recent development comes just days after a phishing campaign was discovered that aimed to get past multi-factor authentication, access accounts on cryptocurrency exchanges like Coinbase, MetaMask, Crypto.com, and KuCoin, and steal cryptocurrency assets.

The scammer’s companies, according to BleepingComputer, exploited the Microsoft Azure Web Apps service to host a network of phishing sites and entice victims to them with phishing messages pretending to be requests for confirmation of fraudulent transactions or alerts of suspicious activity.

More recently, a shoddy “deep fake” video purporting to be Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX, circulated on Twitter in an effort to con those who had lost money due to the collapse of the exchange.

Additionally, a big group of professional “Know Your Customer (KYC)” actors are being used by shady blockchain developers and con artists to deceive cryptocurrency investors, according to a recent analysis by blockchain security specialist CertiK.

Before carrying out their plan, the actors in issue go through the KYC procedure on behalf of the owners of fraudulent projects.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News