A token called Trump Digital Gold (GOLD) was launched on Solana on Saturday, August 29, and reached a market cap of $66 million in under two hours before crashing 99%. Fifteen newly created wallets had spent just $18,657 to acquire 224.5 million tokens, representing 82.45% of the total supply controlled by the team, before selling thirty minutes later for approximately $330,000, a profit of $312,000. Real Trump Coins issued a denial attributing the promotion to malicious third-party actors and claims to be working with authorities, while Eric Trump called the incident fraud. For buyers, there is no way to recover funds on Solana, where transactions are irreversible.
Source: Read the original article
