Real Trump Coins Disavows GOLD Token Launch Following Account Compromise Claims
Real Trump Coins denied involvement with a Solana-based GOLD token promoted through its compromised X account and website, claiming third-party actors were responsible while it investigates with authorities.
Denial of Authorization
According to Real Trump Coins, the entity never gave approval for the creation, marketing, or distribution of the Trump Digital GOLD token. The statement came after the brand’s social media presence promoted the Solana-based asset on Saturday, with subsequent posts removed once the denial was issued. Real Trump Coins stated it had engaged with law enforcement to investigate the incident and would pursue measures to prevent future unauthorized promotions through its channels.
Account and Domain Confusion
The incident raised questions about how multiple digital properties tied to the Trump brand could be compromised simultaneously. The Real Trump Coins X account promoted GOLD while directing traffic to RealTrumpCoins.com, yet the account’s bio listed a separate domain, TrumpCoins.com. Adding to the confusion, the account had been directing users to RealTrumpCoins.com as recently as August 25 in posts that remained visible before the GOLD promotion occurred. At publication, RealTrumpCoins.com continued displaying promotions for the token, suggesting either ongoing compromise or coordination that contradicts the denial.
Suspicious Token Dynamics
Data from blockchain analytics firm Lookonchain painted a troubling picture of the GOLD token’s distribution. The developer and newly created wallets controlled 82.45% of the token’s total supply, pointing to extreme centralization typical of potential scams. Lookonchain documented that fifteen wallets connected to the project team liquidated their positions, generating approximately $330,000 in proceeds while realizing an estimated $312,000 in profit. This rapid exit by insiders, combined with the concentration of supply, suggests the token may have been engineered as a quick money grab rather than a legitimate venture.
The episode highlights ongoing challenges within cryptocurrency, where brand names and digital assets can be weaponized by bad actors to defraud retail investors. The involvement of a Trump-associated entity combined with the simultaneous compromise of both social media accounts and associated domains raises broader questions about operational security in the crypto space.
This incident demonstrates how scammers exploit prominent brands and the critical importance of verifying cryptocurrency promotions before investing, regardless of their apparent legitimacy.
Source: Real Trump Coins, via Cointelegraph. Not financial advice.