Breaking
February 17, 2025

Scammers capitalize on TRUMP memecoin to deploy thousands of fake tokens Cryptopolitan News | usagoldmines.com

Blockchain security firm BlockAid has identified over 200% increase in the number of scam tokens named after Donald Trump after the launch of his official memecoin. The firm’s latest report disclosed that scammers deployed 6,800 tokens containing Trump’s name on the same day of the launch.

This represents a 206% increase in the number of tokens bearing the president’s name already in the market. With these new tokens launched by scammers to capitalize on TRUMP’s momentum, BlockAid observed that they also used malicious branding to deceive investors into thinking they were the real deal.

Beyond launching fake tokens with Trump’s name, the analysis also shows that the scammers created tokens using the names of other first family members, including Melania and Barron, to exploit the incident. Overall, the number of tokens that contain metadata referencing the Trump family increased by 592% during the period.

Trump memecoins
Fake TRUMP Memecoins (Source: Blockaid)

Interestingly, one of the fake BARRON tokens created rose as high as $450 million in market cap before crashing. It is now down more than 95% from its peak.

Beyond the proliferation of fake tokens after the launch, scammers also deployed several malicious decentralized applications using the Trump brand to capitalize on the moment. Ninety-one fake dApps were launched within 24 hours of the TRUMP memecoin launch, representing a 14x increase.

Scammers used popular X accounts to promote fake tokens

Meanwhile, some bad actors also tried to capitalize on the TRUMP memecoin launch by promoting new tokens that they claim are affiliated with Donald Trump. In one of the instances, an account on X that shares Trump posts from Truth Social, TrumpDailyPosts, promoted several fake memecoins.

There are reports that the account was compromised to share contract addresses and fake screenshots that show Trump endorsing POWER and WIN tokens on Truth Social. However, some believe the account deliberately posted the scam tokens.

While some scammers tried to capitalize immediately on the Trump launch, some bad actors also tried to exploit speculation that the Trump team would launch more tokens. One account on X claimed that the next token from the team would be a USA coin, which will launch on January 24.

However, Trump’s son, Eric Trump, quickly quashed the rumors by posting, “$USA coin has nothing to do with us.” There were also unsubstantiated rumors that more Trump-related coins would launch on Ethereum.

BlockAid calls for improved security in crypto

With Trump now sworn in, the hype that fueled his memecoin rise to a peak of $75 appears to have subsided, and the token is now at $44. While there have been many reports about those who made millions or lost fortunes on the TRUMP token, the number of users who lost through scam tokens is unknown.

Nevertheless, BlockAid noted that the incident highlights the wide security gap in the crypto sector and shows how scammers will capitalize on the fear of missing out (FOMO) to exploit vulnerable users through scam tokens and malicious dApps.

It said:

“Public interest, combined with the controversial figure behind the brand, meant that people rushed to buy in—often without proper due diligence. Scammers capitalized on this frenzy.”

The platform has now called for the crypto industry to prioritize security on the developer end. While most blockchain security experts have preached eternal vigilance and caution for users, BlockAid notes that this is not a realistic solution and that it is better for crypto developers and crypto firms to address the problem as solving security issues will boost adoption.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

 

This articles is written by : Nermeen Nabil Khear Abdelmalak

All rights reserved to : USAGOLDMIES . www.usagoldmines.com

You can Enjoy surfing our website categories and read more content in many fields you may like .

Why USAGoldMines ?

USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.

Recent:

The Witcher 3 lead quest designer hates some aspects of the game Noor Bazmi | usagoldmines.com

Analysts defend Pi network’s credibility – Binance calls for a PI community vote Florence Muchai | u...

DeepSeek AI Reveals 3 Cryptos Set for 10x Gains in 2025 Tim Hakki | usagoldmines.com

Bitcoin and Ethereum ETFs Faced Outflows, But BlackRock’s IBIT ETF Gains $106M Hassan Shittu | usago...

Tether Signs MoU with Guinea for Blockchain Adoption and Digital Economy Hongji Feng | usagoldmines....

Libra Founder Claims Criticisms Are Due to People Missing Out on Insider Deals Jimmy Aki | usagoldmi...

Missed Out on XRP? Don’t Worry, Mutuum Finance is Here with Even More Potential Cryptopolitan Media ...

Top Cryptos for Long-Term Investment- The Best Digital Assets to Hold Until 2025 Cryptopolitan Media...

Institutional investors hold $27B in Bitcoin ETF shares, controlling over 25% of total AUM Gino Mato...

Crypto News | XRP a ‘Centrally Controlled Security’? John Deaton Disagrees Wayne Jones | usagoldmin...

Crypto News | Bitcoin Sees $430M in Outflows as Market Responds to Fed’s Hawkish Stance Chayanika D...

Crypto News | Best Wallet Hits $10M Milestone in Token Presale as Some Experts Think it Might Explo...

Crypto News | Early Investors Pour $2M into BTC Bull Token Presale – Great Way to Earn Bitcoin Rewa...

Crypto News | User burns 600 ETH to send sci-fi message warning of Chinese use of brain control devi...

Crypto News | HK Asia’s symbolic 1 Bitcoin purchase sparks nearly 93% stock surge Assad Jafri | usag...

FTX Payouts, Trump-Musk Talk, and FOMC Minutes Could Reignite Crypto Market Nidhi Kolhapur | usagold...

Texas Senate’s Bitcoin Reserve Hearing Tomorrow: A Game Changer or Symbolic Move? Nidhi Kolhapur | u...

Breaking: Elon Musk’s DOGE Launches SEC Probe as Ripple Lawsuit Nears End Nidhi Kolhapur | usagoldmi...

AUSTRAC cracks down on 13 remittance and crypto providers Nellius Irene | usagoldmines.com

Is Binance for sale, and to whom? Yi He addresses rumors Florence Muchai | usagoldmines.com

Americans take a different stance, they support Musk’s DOGE Florence Muchai | usagoldmines.com

Cardano Price Eyes Impulse Move After Bearish RSI Divergence Was Invalidated, Here’s The Target Scot...

$415m exits crypto funds, ending 19-week inflow run – CoinShares Vignesh Karunanidhi | usagoldmines....

Corsair CEO believes GTA 6 might come to PC in 2026; the release window is still set for the fall of...

Elon Musk’s D.O.G.E gets access to US taxpayer information Jai Hamid | usagoldmines.com

Shping coin price prediction 2025-2031: Is SHPING a good investment? Aamir Sheikh | usagoldmines.com

Solana Price Slips – Could Upcoming Unlocks Send SOL Below $50? Simon Chandler | usagoldmines.com

Traders Flock to Bitcoin and Layer-1 Assets as Meme Coin Hype Fades Veronika Rinecker | usagoldmines...

Standard Chartered, Animoca Brands & HKT Partner to Launch HKD Stablecoin Hassan Shittu | usagol...

Scammers Impersonate Saudi Crown Prince to Launch Fake Crypto Amid Meme Coin Hype Ruholamin Haqshana...

Mantra Defies the Sell-Off – Could OM Be the Strongest Altcoin in the Market? Alejandro Arrieche | u...

Russia, Iran Use Crypto to Bypass Western Sanctions – Chainalysis Report Veronika Rinecker | usagold...

Pokémon Criminal Syndicate Stealing Crypto ATMs Gets Knocked Down Sead Fadilpašić | usagoldmines.com

Germany’s Central Bank President Advocates for Digital Euro to Bolster Financial Independence Jimmy ...

Binance Coin Faces Strong Selling – Can It Recover and Overtake Ethereum? Alejandro Arrieche | usago...

Bitcoin’s Big Breakout? Fed’s “Not QE, QE” Just Flipped The Switch Jake Simmons | usagoldmines.com

Crypto News | MELANIA Token Unlock Set for February 19-20 – Will Selling Pressure Increase? Chayani...

Crypto News | Metaplanet Buys $25.6M in Bitcoin, Boosting Holdings to 2,031 BTC Wayne Jones | usago...

Crypto News | Major Pi Network (PI) Price Predictions Ahead of Open Mainnet Launch: Possible or Com...

Crypto News | Bubblemaps Exposes LIBRA’s $100M Insider Scheme: Here’s What You Need to Know Chayani...

Crypto News | Avarik Labs Launches Red Covenant, a Strategic Mobile RPG with Blockchain Integration...

Crypto News | Colend Roadmap for 2025: New Features, Subscription model and the First Crypto Credit...

Crypto News | Surrey University’s Blockchain and Metaverse Academy Unveils AI-Powered Vision for th...

Crypto News | Ethereum Price Analysis: $2200 or $3000, Which Comes First for ETH? CryptoVizArt | us...

Crypto News | Bitcoin Trading Between $90K and $105K, but Accumulation Remains Evident Chayanika De...

Crypto News | Sonic Kicks Off $1M Mobius Hackathon Wayne Jones | usagoldmines.com

Crypto News | Federal liquidity increase could boost Bitcoin amid debt ceiling constraints Liam 'Aki...

Crypto News | Phishing attempt strikes FTX creditors on the brink of repayments Oluwapelumi Adejumo ...

Crypto News | Urgent Ethereum Geth patch addresses Merge oversight and prevents financial loss for v...

Crypto News | Argentina’s stock market plummets amid President Javier Milei’s LIBRA memecoin scandal...

XRP Price Poised for 20% Rally as Whales Buy 60M Tokens Chandan Gupta | usagoldmines.com

Washington DC’s economy looks like 2008 – How bad will it get? Florence Muchai | usagoldmines.com

Mutuum Finance: The Low-Cost DeFi Token Defying the Odds and Outperforming Giants Cryptopolitan Medi...

Everything about Javier Milei’s Memecoin ($LIBRA) Victor | usagoldmines.com

MicroGPT: The Latest AI+Crypto Gem to Watch Lawrence Mike Woriji | usagoldmines.com

$LIBRA: From the Creators of $MELANIA? Victor | usagoldmines.com

Milei plans key US trip to seek IMF funds from Trump amid his memecoin blackeye Florence Muchai | us...

Ethereum wallet burns 500 ETH to spread ominous warning about Kuande Investments Hristina Vasileva |...

ADA Price Stagnates as ETF Speculation Grows – Is This the Calm Before the Storm? Simon Chandler | u...

Best Presales This Year as Analysts Predict Bitcoin Bull Run Amidst Market Chaos Krishi Chowdhary | ...

Ethereum Forms A Bullish Pattern – Expert Reveals Short-Term Price Target Sebastian Villafuerte | us...

Fed Could Sell Gold Reserves To Fund Bitcoin Purchases: Bernstein Nidhi Kolhapur | usagoldmines.com

Standard Chartered, Animoca Brands and HKT partner to issue HKD-backed stablecoin Florence Muchai | ...

PancakeSwap price prediction 2025-2031: Is CAKE set to rally? Aamir Sheikh | usagoldmines.com

Eliza founder speaks out after hack causes investor wipeout Ashish Kumar | usagoldmines.com

Crypto Analyst Predicts 1,500% Pump As Litecoin Grows Against Bitcoin Scott Matherson | usagoldmines...

Crypto News | Bitcoin still en route to $1 million amid focus shift to memecoins Liam 'Akiba' Wright...

Crypto News | Now is a great time to consolidate Bitcoin UTXOs to avoid wasting BTC in fees Liam 'Ak...

Crypto News | Metaplanet makes first Bitcoin purchase in 2025, buys 269 BTC Oluwapelumi Adejumo | us...

Crypto Fraud Exposed: LIBRA, MELANIA Linked to $87M Insider Trading Scheme Mustafa Mulla | usagoldmi...

Lutnick’s Role in Trump’s U.S. Sovereign Wealth Fund Revealed: What Does It Mean for Bitcoin? Vignes...

Will FTX’s Final $2 Billion Solana (SOL) Dump Trigger a Crypto Market Crash? Debashree Patra | usago...

Is Pi Coin a Hit or a Scam? Crypto Experts Debate Ahead of Mainnet Launch Zameer Attar | usagoldmine...

Bitcoin Price Prediction 2025: Is $150K Within Reach? McGlone’s Outlook Zameer Attar | usagoldmines....

Elon Musk’s D.O.G.E To Audit U.S Biggest Gold Reserve Says U.S. Senator Mustafa Mulla | usagoldmines...

Big News: Binance Rejects ‘Sale’ Rumors, Claims Smear Campaign by Rival Exchanges Anjali Belgaumkar...

Hong Kong To Launch New Stablecoin As Standard Chartered, Animoca Brands, HKT Join Hand Mustafa Mull...

Saudi Law Conference X Account Hacked to Promote Fraudulent Memecoins Nidhi Kolhapur | usagoldmines....

West Virginia Proposes Bitcoin Reserve Bill Victor | usagoldmines.com

Stablecoins are starting to flow out of Solana after meme token peak Hristina Vasileva | usagoldmine...

XRP’s Biggest Hater Dramatically Changes Tune, Predicts Monstrous Explosion To $24: Here’s Why Brend...

BTC is ‘Generational Opportunity’ as World Nears Total Chaos, Says Bitwise Exec Sead Fadilpašić | us...

Binance Co-Founder Dismisses Sale Rumors, Blames Competitors for Misinformation Ruholamin Haqshanas ...

Worldcoin Launches in the Philippines with World ID Amid Privacy Debate Hassan Shittu | usagoldmines...

11.2 million SOL from the FTX bankruptcy auction to be unlocked in March Florence Muchai | usagoldmi...

Pepe Coin Price Prediction: Can PEPE 100x Again? New Rival Token at $0.01 Looks Like a Smarter Play ...

3 Best Altcoins to Buy After SEC Delays Response to Coinbase Appeal Krishi Chowdhary | usagoldmines....

Pump fun Launches Mobile App Tari | usagoldmines.com

Google updates crypto ad policy in UAE Lara Abdul Malak | usagoldmines.com

MURA and MELANIA memecoin lead token unlocks this week Vignesh Karunanidhi | usagoldmines.com

Astra Nova Partners with Epic Games to Advance AI-Powered Game Development Cryptopolitan Media | usa...

Solana Bearish Trend Deepens: Is $164 Support the Next Stop For SOL? Godspower Owie | usagoldmines.c...

Georgia Moves to Hold Bitcoin Reserves Victor | usagoldmines.com

SEC Discusses ETFs Staking with Jito and Multicoin Victor | usagoldmines.com

Coinbase Partners with Aston Martin F1 in USDC-Paid Deal Victor | usagoldmines.com

State Street and Citi Bank to Offer Crypto Custody Services Victor | usagoldmines.com

Abu Dhabi Wealth Fund Buys $437M in BlackRock Bitcoin ETF Victor | usagoldmines.com

Tether Invests in Juventus Football Club, Expanding into Sports Tari | usagoldmines.com

Hayden Davis exposes Trump and Melania for crypto insider trading alongside other crimes Jai Hamid |...

Italy’s Central Bank Engages Crypto Firms to Address Key Crypto and Cybersecurity Risks  Ruholamin H...

Leave a Reply