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Circle Says It Lost $2M to Email Fraudsters in June
The USDC issuer said in an SEC filing that customer funds were not impacted by the incident.
Circle Internet Financial lost $2 million to email fraudsters in an “incident” that occurred last month, the payments company said in Thursday regulatory filings.
STORY CONTINUES BELOW
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The “email fraud incident" did not impact customer funds and accounts, and Circle’s “information systems” remained secure, Circle said. It said the unnamed fraudsters stole $2 million in “company-owned funds” in June 2021.
Circle made the disclosure as part of its preparation to go public through a merger with a special purpose acquisition company. The $4.5 billion payments company is positioning itself to be Wall Street’s highest-profile stablecoin specialty firm.
Circle did not elaborate on the incident in its SEC filings. A spokesperson declined to comment.
Read more: USDC Stablecoin Backer Circle to Go Public in $4.5B SPAC Deal
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
