An account officially affiliated with The Trump Organization for physical collectibles was hacked on August 29. Hackers used this account to promote a freshly minted Solana meme token called Trump Digital Gold, ticker GOLD. The token’s market capitalization plummeted more than 95% in roughly 60 seconds, dropping from its peak to approximately $1.8 million, then to $600,000. The project team behind the token sold 224.5 million GOLD tokens, netting an estimated $312,000 profit, representing a 17x return on initial investment. Eric Trump has stated that unauthorized uses of the Trump name for token issuances are fraudulent.
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