Circle Release PSA Warning and Stated “Not Fall for This”

The peer-to-peer payments technology firm, Circle, released the PSA Warning, in which it added that “There is an active phishing campaign attempting to lure users into transferring USDC tokens to malicious addresses. The scammers are pretending to be from Centre, an open source technology project launched by founding members Circle and Coinbase.

It further added that “There is not a new version of USDC in the marketplace. Please do not fall for this.”

After this, the CEO and Founder of Circle, Jeremy Allaire, wrote to Congressional leaders for financial services, urging for clear, workable legislation on stablecoins in the United States while warning that failing to do so will attract more risks to the country.

Mr. Whale, the twitter user, also recently shared the news as “Cashing out” that “About 4.8 Billion USDC sent from Coinbase to Circle addresses in the last 14-days.”

On the other hand, after the FTX collapse, Circle’s CEO and co-founder Jeremy Allaire, said that “Circle has no material exposure to FTX and Alameda.  FTX has been a customer of Circle Payment APIs for the past 18 months, providing card and ACH services for customer transactions.  Circle’s crypto payments beta product uses FTX and other exchanges, for BTC/ETH liquidity.”

The Phishing Activity

Phishing activity, a type of cybersecurity attack, played a starring role during the bear phase of the market. The recent development comes out just days after the detection of a phishing campaign to bypass multi-factor authentication and gain access to accounts on different crypto exchanges such as Coinbase, MetaMask, Crypto.com, and KuCoin and siphon crypto-assets.

BleepingComputer, a information security and technology news publication, states on November 21, 2022 that “the scammer’s entities abused the Microsoft Azure Web Apps service to host a network of phishing sites and lure victims to them via phishing messages impersonating fraudulent transaction confirmation requests or suspicious activity detection.”

Recently, a poorly made “deep fake” video of ex-Co-Founder of FTX, Sam-Bankman-Fried, got trolls on Twitter. The video was attempting to scam users affected by the FTX’s bankruptcy.

Furthermore, blockchain security expert CertiK released a new report on November 17, 2022, about a large group of professional “Know Your Customer (KYC)” actors being employed by dubious blockchain devs and scammers to defraud crypto investors.

As per its blog-post, “CertiK’s investigation confirms that criminals have developed several ways to bypass regular verifications, and the existence of professional “KYC actors” illustrates how easy it is to escape accountability.”

Nancy J. Allen
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Source: https://www.thecoinrepublic.com/2022/11/30/circle-release-psa-warning-and-stated-not-fall-for-this/