$GOLD Price Surges to Nearly $60 Million After Hacked Trump-Linked Account Promotes Token

A social media account linked to the Trump ecosystem was allegedly hacked and used to promote a cryptocurrency called $GOLD. The account, 'realtrumpcoins1', was described as being followed by the official Trump account and linked as a merchandise partner to the Trump Organization.

The promotional post was deleted after reaching nearly $60 million in market capitalization, but not before the token's price surged to that level from just over $600,000. The rapid increase in market value is attributed to the promotional post on the hacked account.

A blockchain analytics platform, Lookonchain, flagged the dramatic movement in $GOLD's market capitalization. However, it remains unclear how the account was compromised and who was responsible for publishing the promotion.