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Crypto

Trump-Themed Memecoin Scammers Net $1M in Rug Pull

Guavy AI Editorial Team
Instruments
MEME
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A group of scammers behind the Trump-themed memecoin GOLD dumped their entire token holdings, netting approximately $1.01 million in profit.

The scam group accumulated over 82% of the total supply through pre-allocation and post-launch purchases before promoting the token via a seemingly official account linked to the Trump Organization.

Once the promotional post was removed, the market reacted instantly, with the market cap plunging from $66 million to $1 million within 30 seconds, leaving late buyers with worthless tokens.

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