Circle Denies Fake Tokenized Metals Platform:

However, Circle has denied involvement in the trading platform that promised the swapping of tokenized gold and silver following a press release sent on Christmas Eve about the service named CircleMetals.

The press release was done with Circle branding and involved false quotes from the company's executives, with its CEO Jeremy Allaire stating users could trade their USDC into gold and silver assets seven days a week. A spokesperson from the company confirmed it was not an actual press release and reiterated the company was not involved with this platform.

This, according to the press release, was a service that facilitated swaps between USDC and supposed gold and silver coins, GLDC and SILC respectively, as well as rewards paid out in the form of a token called CIRM. None of the tokens appear to have existed, as they are not listed on the major crypto data sites.

The website associated in the announcement is still up and running and urges users to connect their wallets to perform swaps. Experts usually advise users to avoid engaging in activities on unverified platforms since users are at risk of being involved in funds-draining activities when linking their wallets.

The press release was distributed on Dec. 24 through a cryptocurrency-oriented PR wire service. This timing could have ensured it went relatively unnoticed. The company press release service through which it was distributed has refused comment. Circle has clarified again that the service is a fake platform and recommended people be careful about misleading information disseminated in their names.

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