MELANIA Meme Coin Developer Takes Fall as Trump Scapegoat Faces Crypto Reckoning

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2025-10-22 11:35:42

Another day, another political figure's crypto project collapses under scrutiny—but the developer's taking the heat while the famous name walks away unscathed.

The Blame Game in Digital Assets

When celebrity-backed cryptocurrencies crash and burn, someone's gotta face the music. In this case, the anonymous developer behind the MELANIA token finds themselves on the chopping block while the former First Lady's reputation remains curiously untouched. The pattern's becoming familiar in crypto circles: big names get the glory, anonymous devs get the blame.

Meme Coin Accountability Theater

The entire spectacle plays out like carefully orchestrated theater—public outrage, dramatic headlines, and ultimately a sacrificial lamb offered up to appease regulators and critics. Meanwhile, the actual financial damage to investors remains unaddressed, buried under layers of legal maneuvering and public relations spin. Just another reminder that in crypto, the house always wins—unless you're the developer holding the bag.

Another cautionary tale in the endless parade of celebrity crypto ventures that promise the moon but deliver mostly legal paperwork and shattered portfolios. Because nothing says 'financial innovation' like finding fall guys for failed projects while the big names cash their checks.

Melania crypto bleeding as the meme coin crashes 99.3%. After the October 10 flash crash, victims plan to sue Meteora executives

(Source: MELANIA USDT, Gecko Terminal)

Fast-forward nine months, and just when TRUMP and Xi Jinping are battling, the TRUMP and MELANIA meme coins are a shadow of their former self. They are a spent cartridge, a shell, and not only are they down in the meme coin market cap ranking, but there is bad news for creators.

Melania Crypto Creators Accused of Fraud

Latest reports show that the creators of the official Melania Trump meme coin are in trouble, and victims, mostly the crowd who aped in, buying a TON of MELANIA meme coin using their life savings, want compensation.

Court filings submitted in New York on Tuesday accused executives of Meteora, the DEX on Solana, of deploying a token that they very well knew WOULD plummet.

Plaintiffs claim that Meteora’s top brass, from where MELANIA crypto first began trading, deliberately set up a scheme for their partners to purchase a large stash of MELANIA crypto on launch. Later, these tokens were sold for hefty profits.

For traders who were left holding the bag, not only did they pray and hope that prices would rebound, but nine months later, they now know that the meme coin is unlikely to recover.

As of October 22, MELANIA is trailing some of the best crypto presales, sliding -99.3% from all-time highs. The meme coin slid to post all-time lows on October 10 when it crashed to $0.09202.

Interestingly, Melania Trump is not in the crosshairs. Instead, victims claim Meteora executives “used her” to “window dress” their crimes.

Who Is To Blame? Melania Meme Coin Was A Scam From The Very Beginning

If this lawsuit succeeds, more will be filed, even targeting the Trump meme coin.

Still, how these victims will be compensated remains to be seen.

However, they would have saved themselves if they had done their due diligence before buying blindly.

The Melania meme coin launch had many red flags that would have prevented smart traders from diving in right away.

First, the Melania Trump website associated with the meme coin was launched a day earlier, shoddily, even without Cloudflare protection. Combined with poorly coded front-end elements, it showed that developers saw this meme coin as nothing more than a hasty grift, not a legitimate project.

Moreover, seconds after MELANIA launched, a cluster of wallets sniped and bought over $2.5M of MELANIA, allowing insiders to control the total supply from the start. A big bulk of the total supply was held by insiders, contradicting public claims that MELANIA tokens were fairly distributed.

https://twitter.com/bubblemaps/status/1881094639765381586

Hours after the meme coin started trading, an address with over 100M MELANIA tokens sold 89M, raking in more than $96M in profits.

There are also questions about how fast MELANIA prices pumped, and dumped. If anything, onchain analysts believe the explosive leg up was engineered, and the sell-off that followed was well orchestrated to keep the crowd happy while insiders exited.

Interestingly, the address that initially funded the creator’s wallet traded actively on Pump.fun.