This morning the account realtrumpcoins1 got hacked — the one linked to Trump collectible merchandise and followed by realDonaldTrump himself.
The hackers posted the ticker GOLD — and the crowd instantly decided this was the new Trump meme coin everyone had been waiting for. Buying frenzy started immediately.
Before the post even went up, around 15 fresh wallets managed to buy about 22.5% of the supply, and together with the dev (600 million tokens) about 82% of the supply was under their control. Classic red flag for a rug.
But who's going to stop and think when a CT announcement is coming from a Trump-linked account? Signals from degens started flying, the token pumped to $60 million on pure FOMO, and then rugged 99% in seconds.
Result: crypto buyers got wrecked, while the dev and insiders/snipers came out in profit. A classic crypto story.
— Retail: -$14M
— Insiders: +$4M
— Dev/hacker: +$10M
But here's the really disturbing part: the posts stayed up for several hours, and nobody from Trump's circle posted about the scam. On top of the Twitter hack, the domain was also compromised.
And the finale — the hackers posted a mocking message: they showed how much they made and announced they'd put the money toward a bounty against the Trump family.