Democratic Congresswoman Waters criticizes Trump's cryptocurrency project at the hearing

2024-09-11 08:04:30

Collection

ChainCatcher news, Democratic Congresswoman Waters (California) emphasized the higher risks consumers face in the DeFi space during a hearing on Capitol Hill, using the cryptocurrency lending platform World Liberty Financial, promoted by Trump and his sons, as an example.

Last week, the Twitter accounts of Trump’s daughter Tiffany Trump and Republican National Committee Chairwoman Lara Trump (Trump's daughter-in-law) were hacked. Under the hackers' control, these accounts promoted fake tokens issued by World Liberty Financial, attempting to defraud potential buyers. Waters stated, "Due to the notoriety of the individuals behind the project, criminals took this opportunity to defraud potential users. Legislators have a responsibility to consider implementing strong protective measures to prevent such scams."

According to Trump’s son Eric Trump, Twitter blocked the hacked social media accounts "within minutes." However, Waters pointed out that many people still suffered real harm, purchasing fake tokens worth approximately $1.8 million, which were actually unrelated to the project.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.