Trump Digital Gold Crashes 98% in Hours After Suspected $330,000 Rug Pull
Trump Digital Gold (GOLD) misplaced 98% of its worth inside hours of launching on Solana (SOL) Saturday. A verified merchandise account that Donald Trump follows promoted the token.
The token peaked above $50 million in market worth early in the day. It now sits close to $770,000, in accordance with DexScreener. Blockchain analytics agency Lookonchain says wallets tied to the workforce offered first.
How the Trump Digital Gold Launch Unraveled
The selling account, @realtrumpcoins1, holds a verification badge and 42,300 followers. Its bio calls it an official companion of the Trump Organization. Trump follows it. That sign alone gave the pitch weight.
Lookonchain, a agency that tracks pockets exercise on public blockchains, flagged the provision construction early. The developer held 600 million GOLD, whereas 15 new wallets spent $18,657 on one other 224.5 million.
Those addresses collectively held 82.45% of provide. Half an hour later, the identical 15 wallets offered all the pieces for 3,178 SOL, value about $330,000. Their revenue neared $312,000.
Late consumers absorbed that promoting, echoing similar retail losses before.
Two Different Domains Tell the Story
The now-deleted promotion named one vacation spot.
“Introducing Trump Digital GOLD! It’s time to redefine what DIGITAL GOLD means… GET YOUR $GOLD NOW: realtrumpcoins.com,” read the since deleted submit.
The account’s bio factors elsewhere, to trumpcoins.com. That retailer sells medallions and works usually. BeInCrypto discovered no crypto merchandise on it.
Realtrumpcoins.com is a separate lookalike area. It nonetheless reveals the contract tackle and calls the token the Trump Foundation’s most bold crypto challenge.
Researcher Rune noted its registration report modified the identical day, whereas its checkout stopped working.
Nobody in the Trump household introduced GOLD. Eric Trump had already denied new coin rumors per week earlier, on August 22.
“What a joke… This is totally not true. No one is launching any type of coin. If anybody is suggesting in any other case, it’s a fraud,” he wrote in an influence.
Lookonchain later confirmed the account wiped these posts. Compromised political accounts have pushed fake Solana tokens earlier than. Those 15 wallets exited into Solana’s native token, which trades close to $104.
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