SEC Circle file shows affected by latest breach, company lost $ 2 million in funds

Circle, a cryptocurrency payments company that recently announced it was going public, said it had been hit by an online email scam that resulted in nearly $ 2 million of a Holding company’s funds being stolen.

The incident took place in June 2021 and was triggered by threat actors who launched a fraudulent attack on the company’s online email, according to an Sec statement filed by Circle Internet Financial Limited and its affiliates (Circle).

“In June 2021, the company was the target of an online email fraud incident that resulted in fraudsters making $ 2 million in holding company funds. No customer accounts or funds were accessed or otherwise affected, and none of the company’s information systems were compromised as a result of the incident.”The apartment will be mentioned in the file.

Circle’s latest announcement of plans to go public was made by Concord Acquisition Corp.it came after an announcement of support from.. special purpose acquisition company (SPAC), which is entrusted with about $ 275 million. Circle’s public listing Announcement increased the company’s current valuation to $ 4.5 billion.

The disclosure about the recent hack was not disclosed, but was outlined by the company as requested by the Securities and Exchange Commission for the company’s reporting period financial report. Circle is known as the firm behind USD Coin, a stable coin that manages the decentralized financial sector (Defi) blockchain and cryptocurrency space.

Circle is supported by major venture investors including Accel Partners, Bitmain, Blockchain Capital, Breyer Capital, CICC Alpha, China Everbright Bank, Digital Currency Group, General Catalyst, IDG Capital and Pantera.

Apr Sunday’s launch of the DEFI API will potentially increase the adoption of cryptocurrencies and decentralized finance beyond the niche area and into more traditional financial markets run by Wall Street institutions, as Circle launches its Defi API.

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