Circle has issued a warning regarding a fraudulent press release circulating online. The fake announcement falsely claimed that Circle had launched a platform called "CircleMetals," which supposedly facilitated swaps between USDC and tokenized gold and silver assets.

What's particularly concerning: the bogus release impersonated Circle's branding and even quoted company executives by name, including CEO Jeremy Allaire. This type of social engineering attack is designed to fool investors and media outlets into believing a legitimate partnership or product launch.

The company formally denied any involvement in such initiatives. This incident highlights a growing threat in crypto—scammers using sophisticated impersonation tactics to create fake platforms and siphon funds. Always verify announcements directly from official channels before trusting them, especially when major brands and executives are involved.