- Circle confirmed the “CircleMetals” platform announcement as a forgery.
- No funding or real deployment involved in CircleMetals.
- Users advised to verify links, avoid connecting wallets to fraudulent sites.
Circle Internet Financial has debunked a fraudulent press release, falsely claiming the launch of “CircleMetals” for tokenized gold and silver trading, urging caution against unverified links.
The false press exploit highlighted the vulnerability of the sector to impersonation scams, stressing the need for verification to prevent financial losses and secure the digital asset marketplace.
Circle Rebuffs Forged Announcement of CircleMetals Platform
Circle, an influential player in cryptocurrency, emphasized the fraudulent nature of the “CircleMetals” release through a post on its verified social media. The statement reiterated the authenticity of any Circle product announcements would originate solely from its official channels. The illegally crafted press release included falsified quotes from Circle CEO Jeremy Allaire, misleading users about the supposed asset trade-off.
Jeremy Allaire, Co‑founder & CEO, Circle, said, “Please be alert and vigilant—verify the legitimacy of requests before taking action, especially when asked to connect your wallet.” (Circle’s X post)
The fabricated platform’s implications include potential losses through scam interactions. Circle has engaged actively in discouraging trust in unsolicited communications requesting wallet connections due to potential unauthorized transactions. Highlighting these concerns, Gate.io, a major cryptocurrency exchange, confirmed the press release’s fraudulent nature and advised caution to their user base.
The community reaction has been predominantly focused on preventing further dispersal of inaccurate information. Circle specifically urged its users to exercise caution and verify links to avoid fraudulent engagements. Circle’s proactive communication efforts sought to reassure and protect the crypto community from substantial losses.
USDC Stability amid False Metals Platform Scam
Did you know? The “CircleMetals” scam mirrors past incidents where the SEC has acted against crypto impersonation schemes, reflecting ongoing challenges in combating fake platforms in the industry.
With data from CoinMarketCap, USDC maintains a stable price of $1.00, holding a market cap of $76.49 billion and a market dominance of 2.58%. USDC’s liquidity was evidenced by a 24-hour trading volume of $5.49 billion, showing a decrease of 34.51% as of December 25, 2025. Although recent price changes have been minimal, a notable 2.76% decrease over 90 days was observed.
Insights from the Coincu research team suggest that awareness and security hygiene must be prioritized to prevent potential losses in similar events. Emphasizing the necessity for stringent verification measures can mitigate the risk and ensure cryptocurrency space integrity. Circle continues to promote awareness about scam risks, urging caution among users when dealing with unofficial communications.
| 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. |
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