Scammers Prey on Trump-Themed Meme Coin Frenzy
The post Scammers Prey on Trump-Themed Meme Coin Frenzy appeared on BitcoinEthereumNews.com.
TL;DR Scammers are targeting TRUMP and MELANIA investors with fake websites, tricking them into linking their wallets to dubious resources. With TRUMP’s price down from its peak and multiple crypto experts bashing the asset’s launch, further big rallies may be limited, so careful research is essential before investing. Investors, Beware This bull cycle will be remembered for the solid performance of the meme coin niche. Just a few days ago, the Trump family jumped on the bandwagon, making huge waves in the entire crypto space. On January 18, Donald Trump’s meme coin, Official Trump (TRUMP), saw the light of day, and shortly after, its price skyrocketed to spectacular levels. It briefly surpassed $70, with its market capitalization soaring past $14.5 billion. Trump’s wife also launched a meme coin called Melania Meme (MELANIA), and at one point, its market cap soared above $2 billion. Despite retracing substantially from their peak levels in the past several days, both tokens remain quite trending. This could explain why scammers have supposedly created numerous websites offering dubious services with TRUMP and MELANIA, with the sole purpose of conning unsuspecting victims. According to a recent report, people visiting such malicious addresses are offered to connect their wallets to the resource to check their right to participate in transactions with the new tokens. “The official address of the token is indicated on all websites, but when connecting, the victim is asked for the seed phrase from the wallet. Fraudsters can also “hijack” a crypto wallet or connect malware to withdraw funds,” said Maria Sinitsyna, a senior analyst working for a Russian cybersecurity company called F.A.C.C.T. Is It too Late to Deal With TRUMP? The impressive price increase of Donald Trump’s meme coin allowed savvy traders to make huge profits overnight due to entering and eventually exiting the…
Filed under: News - @ January 23, 2025 7:18 pm