A press release published on Christmas Eve claimed that Circle, the issuer of the USDC stablecoin, had launched a new platform offering tokenized gold and silver trading.
However, it is “false,” a Circle spokesperson told CoinDesk.
The platform, launched under the name CircleMetals, was promoted through a press release distributed on December 24, a date when many US businesses are closed or operating at limited capacity and response times are slower.
The release described a new service that allowed 24/7 trades between USDC and purported gold (GLDC) and silver (SILC) tokens, supposedly backed by COMEX-pegged liquidity. Interestingly, it encouraged users to make trades on the platform and receive “1.25% in $CIRM rewards.” CoinDesk was unable to verify said CIRM token, which does not appear to be listed on major data aggregators.
The website asks users to connect their wallets to allow them to exchange for the supposed precious metal tokens. It is generally considered a bad idea to connect wallets directly to unverified websites, as malicious actors can empty users’ wallets.
The statement even used Circle branding and claimed to quote executives, including CEO Jeremy Allaire.
“Confirmed this is not real,” a spokesperson told CoinDesk when asked.
The press release announcing the product, distributed via a crypto-focused PR wire, includes links to what appears to be an exchange platform that allows users to connect their addresses and offers rewards for trades of the purported tokenized gold and silver tokens.
The public relations firm that originally included the press release, ChainWire, declined to comment.
While the website remains active, there is no evidence to suggest that GLDC or SILC tokens exist or that any legitimate financial institution is involved.
