Christmas Eve. Quiet markets. Slower responses. Perfect timing for a trap.

A press release began circulating, boldly claiming that Circle, the issuer of USDC, had launched a new platform called CircleMetals — promising 24/7 trading of tokenized gold and silver. The release looked polished. Official branding. Executive quotes. Even CEO Jeremy Allaire’s name was used.

But none of it was real.

Circle later confirmed the truth: the announcement was completely fake.

The so-called platform claimed users could swap USDC for gold (GLDC) and silver (SILC) tokens, allegedly backed by COMEX-linked liquidity. It dangled incentives too — “1.25% rewards in $CIRM.” A token no one can find. No listings. No data. No proof it exists.

Yet the website is still live.

Visitors are urged to connect their wallets to start swapping. That’s the most dangerous part. Connecting a wallet to an unverified site is often all a scam needs. No trade required. No confirmation. Just access.

There is zero on-chain evidence that GLDC or SILC tokens exist. No smart contracts. No audits. No custodians. No regulated partners. Just claims.

Even more alarming:

• The press release was distributed via a crypto PR wire

• It mimicked Circle’s language and branding

• It launched during a holiday lull

• It targeted trust, not logic

This wasn’t a sloppy scam. It was carefully staged.

The takeaway is simple and critical:

In crypto, branding is not verification.

Press releases are not proof.

And rewards are often bait.

If a platform asks you to connect your wallet before you can verify everything — assume the risk is yours alone.

Stay sharp.

Scams don’t knock. They announce themselves confidently and hope you don’t look twice.#

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