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- TRUMP token has witnessed violent volatility after news of fake utility emerged on social media.
- Since the Presidential inauguration, the TRUMP token has seen much of its initial gains eroded.
The TRUMP meme coin saw a rollercoaster rise by 20% before crashing after news that it would be granted real-life utility turned out to be false. The token jumped from $10.47 to $12.61 after DB, a well-known crypto news platform, posted on X (formerly Twitter) about TRUMP gaining real utility. But within minutes, the tweet was deleted, and the price fell to $10.60 as panic took over.
A second post on DB’s account said it had been hacked, which made things even more dramatic. Many people in the crypto community, including the well-known trader Ansem, pointed out a spelling mistake in the tweet, which made people even more suspicious that hackers were still in charge. Some users also said that DB’s account spread other fake news too, like a BlackRock spot HYPE ETF filing that didn’t happen.
DB erased the tweets that were not permitted and asked its followers to disregard any statements that were made during the security incident. Subsequently, the corporation stated that an internal inquiry was currently being conducted and promised to provide updates as soon as additional information became available.
Millions in Profit, but Who Really Benefits?
Beyond the sudden price swings, the TRUMP token has been a money machine for its key stakeholders. According to the Financial Times, the project has raked in a massive $314 million from token sales and an additional $36 million from transaction fees on the Solana blockchain. And that’s not even counting potential profits from exchange listings.
The bulk of the token supply is concentrated in just two entities: CIC Digital (an affiliate of The Trump Organization) and Fight Fight Fight, which together control 80% of the tokens. Despite the name, the project’s official website, gettrumpmemes.com, makes it clear that neither Donald J. Trump nor The Trump Organization is directly involved in distributing or selling the token.
As crypto continues to blend with politics, the project’s deep financial ties raise eyebrows. With such a large portion of the supply in the hands of a few, smaller investors remain at risk of price manipulation and sudden market swings.
Scammers Exploit TRUMP Token Frenzy in Under 2 Minutes
According to a March 10th report by Forbs, the TRUMP token has also attracted cyber criminals, with researchers from Cofense warning about a dangerous phishing campaign. Hackers are using fake Binance emails to trick users into downloading a malicious “Binance Desktop” app—which, instead of securing tokens, installs a Remote Access Trojan (RAT).
Once installed, the RAT connects to a remote server, giving hackers full control over an infected computer. Passwords, credentials, and crypto assets stored on the device become easy targets. Cofense researchers revealed that the hackers behind this campaign act in under 120 seconds—almost instantly taking over compromised systems.
To make the scam appear authentic, hackers spoof Binance’s name, include a risk warning, and mix elements from legitimate Binance pages to build a convincing phishing site. However, they did not fully replicate Binance’s TRUMP coin page, leaving subtle differences for sharp-eyed users to spot.
