Circle, which released the USD Coin (USDC) stablecoin, has warned of an active phishing attack trying to trick users.
With new collaborations and increased adoption, crypto services are expanding into the broad network. However, this growth has disadvantages such as being a tool for fraud. Seeking to curb the situation, Circle also warned of an emerging phishing attack.
Circle Warns of Phishing Attack
According to Circle’s warning, hackers are deceiving users through a campaign by applying the said phishing attack. The campaign is used to entice users to send USDC tokens to malicious addresses.
Phishing is a cybercrime in which scammers try to steal data by posing as a trusted source. Phishing, which can be done in multiple ways, is generally used to steal credit cards or personal information.
Circle scammers also claim to be a new version of the stablecoin, pretending to work for Centre, a consortium founded by Coinbase and Circle. It then tries to trick USD Coin (USDC) users into transferring their tokens to malicious addresses.
USDC is the second largest stablecoin in the market, with a total market cap of $44.1 billion, according to CoinGecko data.
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