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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.
By Danny Nelson
Updated May 9, 2023, 3:21 a.m. Published Jul 8, 2021, 5:51 p.m.
Circle Internet Financial lost $2 million to email fraudsters in an “incident” that occurred last month, the payments company said in Thursday regulatory filings.
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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
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