Memecoin Scam Targeting the Trump Family

Hackers announced a memecoin project involving Barron Trump, claiming “Trump will soon confirm this news. ” However, World Liberty Financial soon confirmed that Witkoff’s account had been compromised and warned its followers not to invest in the project.

The company said in a statement “We are resolving the situation as fast as possible. Please do not get involved in this fake Barron Trump project.”

Such attempts against the Trump family are not new. On January 23rd, Donald Trump’s daughter Ivanka Trump also reacted to a fake memecoin project using her name and announced that investors were being scammed.

World Liberty Financial and Trump Connection

World Liberty Financial is known as one of the decentralized finance (DeFi) projects linked to the Trump family. The project’s team reportedly includes Donald Trump as well as Barron Trump.

The project launched its own token, WLFI, in October 2024. However, this latest incident has once again revealed that the names of the Trump family are being used as a manipulation tool by malicious actors in the crypto world .

As the risks associated with fake memecoin projects increase, it is emphasized that investors should be more careful against such manipulative attempts.

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The post Fake Barron Trump Memecoin Launched! appeared first on Coin Engineer.

This comment follows a notable price rise for memecoin, driven by conjecture about its connections to Trump.

Background on Shkreli and Barron Trump

Shkreli’s allegation surfaced during a discussion with ZachXBT, an online cryptocurrency researcher, who sent images of private communications on social site X—formerly known as Twitter. Shkreli disclosed in these messages that he was working with Barron Trump on the DJT coin development. This revelation followed blockchain company Valhalla Intelligence’s offer of a $150,000 reward for information on the inventors of the token.

“I have over 1,000 pieces of evidence that I created this with Barron,” said Shkreli, who was let out of jail on fraud allegations in May 2022. Later on, Shkreli confirmed these assertions in an X live debate, saying he developed the DJT token alongside a team of forty to fifty people, including Barron Trump.

Operating on the Solana blockchain, the DJT token saw a notable 180% price rise on Monday. This rise coincided with a revelation from Pirate Wires indicating Barron Trump was driving the coin’s introduction, which has gone unreported since its April launch.

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Reacting to Shkreli’s assertions, crypto investor Alex Wice tweeted a dubious note, declaring he would bet $1 million that “DJT is fake.” Rising the stakes, another crypto investor known as Gigantic Rebirth placed $100 million on Trump not being involved. Gigantic Rebirth wrote on X, “I am aware that there is a conspiracy strategy to bribe people in the Trump orbit to pretend they had something to do with this,” saying that a group of crypto whales launched a pre-sale and distributed the tokens to influential opinion leaders.

In 2018, Martin Shkreli received a seven-year prison sentence for securities fraud connected to his employment at pharmaceutical company Retrophin and hedge fund MSMB Capital Management.

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The post Barron Trump and Shkreli Behind DJT Coin, Says Pharma Bro appeared first on Coin Engineer.