Fake CircleMetals Platform Claims Tokenized Gold and Silver Trading
On December 24, 2025, a fraudulent press release claimed that Circle had launched CircleMetals, a platform offering tokenized gold and silver trading. The release used Circle's branding and included quotes attributed to the company's executives to appear legitimate.
The fake platform advertised 24/7 swaps between USDC and purported tokens GLDC (gold) and SILC (silver), which were allegedly backed by COMEX-linked liquidity. However, there is no evidence that GLDC or SILC tokens actually exist. These tokens are not verified and are not listed on any major data aggregators.
The CircleMetals website prompted users to connect their wallets to swap tokens, raising security concerns. Circle officially stated that this release is fake and urged users to verify legitimacy before connecting wallets or engaging with unverified sites.
The fraudulent release also linked to a swap platform and promised rewards of 1.25% in a token called CIRM, which similarly is not verified. The fake story circulated via crypto-focused PR wires; the PR agency FinaCash pitched it to Chainwire, which initially posted and then removed the story. Chainwire noted they were not the first distributor and issued a correction.
The CircleMetals website has since been taken down, and there is no evidence that any legitimate financial institutions were involved in this scam.
