Donald Trump-themed Coin Insiders Profit $3.8 Million After Former President’s Reputation Fraud
The post Donald Trump-themed Coin Insiders Profit $3.8 Million After Former President’s Reputation Fraud appeared on BitcoinEthereumNews.com.
Key Points: On-chain investigator ZachXBT revealed that insiders profited $3.8 million from the Donald Trump-themed coin RTR through suspicious trading activities. RTR saw a 95% drop in value after Eric Trump and Donald Trump Jr. denied any connection to the coin. The Donald Trump-themed coin, Restore the Republic (RTR), has seen its value crash by 95% following revelations that it has no ties to the Trump family. Read more: Donald Trump NFT Collections Are Now Showing the Former President’s Passion for Crypto Insiders Profit $3.8 Million from Donald Trump-themed Coin Amid Fraud Allegations ZachXBT, an on-chain investigator, reports that suspected RTR insiders have made $3.8 million in profits from the coin by trading it through four wallets. This demonstrated that two of those addresses, namely 9G1ELG and GHoW2, were under one owner and received funds and liquidated them within a very short period. Data shows that it might also have been a rug pull project. Rug pull is a crypto industry fraud where a project development team suddenly leaves the project, liquidating all of the form liquidity the project might have. This dramatic decrease occurred after Eric Trump and Donald Trump Jr. took to the public to denounce the coin, terming it an unauthorized and misleading venture. Eric Trump dismissed the Donald Trump-themed coin as a fraud, stating, “This is absolutely false,” in response to claims that it was an official Donald Trump project. His brother, Donald Jr., further warned, “The only official project will be announced directly by us, and it will be fair for everyone. Don’t be fooled—stay tuned for the real deal.” Read more: Top 10 Biggest Rug Pull Projects In Crypto Market History Kanpai Pandas NFT Price Drops Due to Controversial Donald Trump-themed Coin Promotion The NFT series Kanpai Pandas was linked with the promotional RTR,…
Filed under: News - @ August 10, 2024 10:22 am