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    Phishers take advantage of fears surrounding the USDC de-peg

    By ApeSpaceMarch 17, 2023
    Blue circle with white $ symbol surrounded by a white circle, broken at the top and bottom

    When USDC deviated from its dollar peg on March 10, phishers were quick to devise a scheme to take advantage of holders’ fears. A group launched a website appearing to be the blog belonging to Circle, the company that backs USDC. On the fake blog, they announced a supposed defi exchange where users would be able to exchange their USDC for stablecoins like Tether.

    Holders trying to use the exchange approved transactions which they didn’t realize allowed the phishers to drain their ETH. So far, the scammers have stolen around 74 ETH ($130,500).


    • “‘Circle Swap’ scam exploits USDC depeg fears, drains ether from wallets”
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    This content was sourced from Web3IsGoingGreat

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