Trump Digital Gold Scam Exposes Ongoing Threat to Crypto Investors

A new scam has emerged in the cryptocurrency space, targeting investors with a fake Donald Trump-themed gold coin called Trump Digital Gold.

The token launched on Solana and gained traction after being promoted by Realtrumpcoins, an account followed by President Trump. However, it appears that scammers may have hacked this account to post about the token.

The team behind Trump Digital Gold controlled 82.45% of its total supply, with 60% held directly by them and 15 newly created wallets buying 224.5 million tokens for $18,657 shortly after launch.

When Realtrumpcoins posted about the token on X (formerly Twitter), it caused the price to surge, reaching a market cap of $66 million at its peak. However, within 30 seconds of the tweet being deleted, the team address started selling the token, causing the market cap to drop from $55 million to $1 million.

The scammers made over $1 million in profit after creating and selling the fake token, highlighting how attackers continue to exploit familiar methods to defraud crypto investors.