USDC issuer Circle issues warning about hacked executive account News ▸ USDC ▸ Stablecoins
USDC issuer Circle issues warning about hacked executive account
The hacker tweeted about a fake USDC airdrop to compensate holders who held the stablecoin during its depeg.
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Updated: Jun. 23, 2023 at 10:43 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Stablecoin issuer Circle has warned its community about a fake USD Coin (USDC) airdrop on the Twitter account of its chief strategy officer and head of global policy, Dante Disparte.
In a March 22 statement, Circle wrote that any links to offers were scams, adding that a scammer took over Disparte’s account. CEO Jeremy Allaire corroborated the firm’s statement.
Circle added that:
“We are investigating the situation and taking action accordingly.”
Hacked account used to promote fake USDC compensation
Disparte’s hacked account was used to promote a fake USDC airdrop that the scammers said would be a “one-time bonus” for holders of the stablecoin during the depeg.
The malicious player linked to a phishing website designed to steal crucial data or tokens of unsuspecting individuals.
Part of the message tweeted by the hacker includes:
“We are pleased to announce that we will be distributing a one-time bonus of USDC to all existing holders. This bonus is our way of thanking you for your continued support and trust in USDC… We know that stability is key when it comes to digital currencies, and we are committed to doing everything in our power to maintain the stability of USDC.”
It was unclear if Disparte had gained control of the account as of press time because some of the hacker’s tweets had been deleted.
Earlier in the month, USDC lost its $1 peg after a banking crisis that led to the failure of crypto-friendly banks like Silicon Valley Bank and Signature Bank.
While the stablecoin has since regained its peg, crypto investors’ confidence in USDC remains low. Its supply has declined by around 15% in the last 30 days, according to CryptoSlate’s data.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium.
Circle
Circle Internet Financial Ltd is a global internet finance company, built on blockchain technology and powered by crypto assets.
Jeremy Allaire stands as the founder, chairman, and CEO of Circle, a trailblazing consumer Internet company.