Crypto Scam Alert: Circle’s Fake Gold Mine 🪙💀

by

So, apparently, someone decided to pull a fast one on the crypto world 🤡. A fake press release, which went viral faster than a cat video, claimed Circle had launched “CircleMetals” – a service offering tokenized gold and silver backed by USDC liquidity. Spoiler alert: it was all a scam. Circle confirmed it faster than you can say “gotcha” and warned users to stay the hell away from anything related to it.

Here’s the TL;DR 🤓:

  • Someone lied about Circle launching a tokenized gold and silver platform. Shocking, right?
  • They stole Circle’s branding and made up executive quotes. Bold move, Cotton.
  • Users were told to connect wallets. Hint: that’s how they steal your lunch money.
  • Circle said, “Nope, not us,” and told everyone to stay vigilant. Duh.
  • Scammers apparently work overtime during the holidays. Who knew?

How the Scam Got Its Groove On 🕺

The scam worked because, let’s face it, details matter. The fake release looked legit – it had Circle’s branding and even fake CEO quotes from Jeremy Allaire 📜. They called it “CircleMetals,” which sounds official but isn’t actually trademarked. Sneaky, right? The release promised 24/7 swaps between USDC and fake gold and silver tokens called GLDC and SILC. Oh, and they threw in a rewards token called CIRM, which, surprise! Doesn’t exist 🙃.

Wallet Connections: AKA the Kiss of 💀

The scam site (now offline, thank goodness) told users to connect their crypto wallets to start trading 🚩. Experts screamed, “Danger, Will Robinson!” because connecting wallets to sketchy platforms is basically handing over your keys to a thief. Spoiler: there’s no proof GLDC or SILC tokens exist, and no legit financial institutions were involved. Shocker.

Circle Steps In Like a Boss 🚔

Once the scam hit the fan, Circle hopped on X (formerly Twitter) and yelled, “This is fake! Don’t fall for it!” 🔥 They reminded everyone to check official channels for legit announcements and not to connect wallets to sketchy platforms. Pro tip: if it smells like a scam, it probably is 🐟.

How the Fake News Went Viral 📰

The scam was pushed through crypto PR services and even picked up by some outlets before they realized, “Oops, this is BS.” A PR firm called FinaCash tried to distribute it through Chainwire, who pulled it after realizing it was fake. Moral of the story: even “trusted” channels can’t be trusted these days 👀.

Holiday Scams Are on the Naughty List 🎅

The FBI has warned that crypto scams spike during the holidays 🚨. Scammers are using AI, realistic branding, and FOMO tactics to trick distracted users. Remember, if it sounds too good to be true, it probably is. And never connect your wallet to anything that doesn’t have a gold star from official sources 🌟.

Tokenization is all the rage, but this fake CircleMetals mess reminds us that scams can look legit. Stay skeptical, people. It’s cheaper than regretting it later 💸.

The info here is for funsies, not financial advice. Do your homework and talk to a pro before throwing money at anything. 🧠💡

Read More

2025-12-25 09:48