Fraudsters exploit Trump TRUMP tokens to hype and steal over $857 million

2025-01-24 10:45:46

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ChainCatcher news, according to Beincrypto, scammers have taken advantage of the hype surrounding the TRUMP token released by Trump last week, sending fake coins to wallets associated with the TRUMP team and its creators, leading cryptocurrency traders closely monitoring these wallets to mistakenly purchase these worthless tokens. They believed that the Trump meme coin team intended to buy these tokens and had insider information. The scammers anticipated this behavior and profited from it.

According to data from Global Ledger, four scam tokens related to Trump have generated at least $857.5 million in revenue. These tokens—JMilei, MELON, WTRUMP, and PUTIN—have been cashed out on multiple major exchanges. Further investigation revealed that the PUTIN, KING, and BUFFET tokens are associated with the same deposit wallet on Binance. These wallets have collectively withdrawn $91.3 million. This pattern suggests that the same entity or group may have created and cashed out these tokens.

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TRUMP JMilei PUTIN meme

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