Circle Denies Launch of Fake Tokenized Gold and Silver Trading Platform
- A press release on December 24 claimed Circle launched a platform called CircleMetals for trading tokenized gold (GLDC) and silver (SILC).
- Circle’s spokesperson confirmed the announcement was false, stating, “Confirmed this is not real.”
- The release offered users “1.25% in $CIRM rewards” for swaps, but CoinDesk could not verify the existence of the CIRM token.
- Users were prompted to connect their wallets to an unverified website, raising security concerns about potential wallet draining.
- No evidence supports the existence of GLDC or SILC tokens or any legitimate financial institution involvement.
The misleading press release utilized Circle branding and falsely quoted executives, creating confusion in the market during a holiday period when business operations are limited.
This incident highlights the risks associated with connecting wallets to unverified platforms, especially when purported rewards like “1.25% in $CIRM” are involved.(Source)
