The hacker announced a fake USDC airdrop on Twitter to compensate holders of the stablecoin for holding on to it during the depeg.

Stablecoin issuer Circle has warned its community about a fake USD Coin ( USDC ) airdrop from the Twitter account of its chief strategy officer and global policy head Dante Disparte.

In a statement on March 22, Circle wrote that any link to the offer was a scam, adding that a scammer had taken over Disparte’s account.

CEO Jeremy Allaire confirmed the company's statement.

Circle added: “We are investigating the situation and will act accordingly.”

Hacked accounts used to promote fake USDC compensation

Disparte’s hacked account was used to promote a fake USDC airdrop, which the scammers said would be a “one-time bonus” for stablecoin holders during the depeg.

Malicious players link to a phishing site designed to steal critical data or tokens from unsuspecting individuals.

Some of the messages posted by the hackers include:

“We are pleased to announce that we will be distributing a one-time USDC bonus to all existing holders. This bonus is our way of thanking you for your continued support and trust in USDC… We know that stability is key for digital currencies, and we are committed to doing everything we can to maintain the stability of USDC.”

As of press time, it is unclear whether Disparte gained control of the account, as some of the hacker’s tweets have been deleted.

Earlier this month, USDC lost its $1 peg following a banking crisis that led to the collapse of crypto-friendly lenders such as Silicon Valley Bank and Signature Bank.

Although the stablecoin has since re-pegged, sentiment among crypto investors toward USDC remains low, with its supply falling by about 15% over the past 30 days, according to data from CoinMarketCap.