As a seasoned crypto investor with over two decades of experience in the financial markets, I can confidently say that this latest incident involving Lara and Tiffany Trump’s X accounts being hacked to promote a fake Solana-based memecoin is nothing new under the sun. The repeated use of high-profile names to lure unsuspecting investors into rug pulls and scams is a tactic as old as the internet itself, albeit with a fresh coat of paint in the form of blockchain technology.
Scammers using cryptocurrency deception focused on the social media profiles of Lara and Tiffany Trump, aiming to publicize a Solana-associated meme token.
According to multiple users on X, as well as Eric Trump (Lara Trump’s husband), it was verified that certain accounts on X were hacked on September 4th. These compromised accounts were then utilized to advertise a falsely labeled Solana-based memecoin, which was linked to Donald Trump’s mysterious new decentralized finance project called World Liberty Financial and its cryptic themes.
Initially, Lara Trump posted an advertisement (which has since been removed) claiming that the WL token, later proven to be fake, was the governing token linked to the Trump family’s project. Subsequently, the perpetrators distributed additional posts, including a contract address for the token and a link to their official Telegram group. This was intended to give the appearance of authenticity.
The attackers then used Tiffany Trump’s account to endorse the scam posts in a bid to lure users.
Shortly following the spread of the posts on X platform, Eric Trump and the verified World Liberty Financial X account alerted users about a potential hack, strongly advising them against buying any associated tokens.
ATTENTION: The social media accounts of Lara and Tiffany Trump have reportedly been hacked. Refrain from clicking on any links or buying the tokens being promoted through their profiles. Our team is currently addressing the issue, so remain cautious and beware of potential fraudulent activities!
— WLFI (@worldlibertyfi) September 4, 2024
Eric Trump stated that the affected accounts were secured promptly following the posts. Yet, a user noted it might have been slightly too late as the posts had already attracted comments from media personality Caitlyn Jenner, who admitted doing so and explained she swiftly removed them shortly afterwards.
In other words, I didn’t express any support for them or their endeavor. Initially, I showed approval using three clapping emojis, but as soon as I learned about the security breach, I swiftly removed those emojis. Later on, I shared the official announcement of the hack from their verified source.
— Caitlyn Jenner (@Caitlyn_Jenner) September 4, 2024
According to Dexscreener’s data, the token’s price soared to a peak of 0.005314 SOL shortly after trading began at 0.0001286 SOL. However, by the time of publication, the token had been active for approximately seven hours, and its price had plummeted over 90% from its all-time high.
This project’s initial concept is not tied to the Trump family, but rather it centers around exploring themes related to the political climate under the Trump administration.
A different project built on the Solana platform, titled “Restore The Republic,” initially asserted ties with Donald Trump; however, these claims were subsequently disproven when Eric Trump openly declared that there was no affiliation between them.
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2024-09-04 10:20