Binance News: Crypto Trader Loses $26,820 to Fake $TRUMP Token News

In a recent incident, a crypto trader suffered a significant financial loss due to the spread of false information regarding the $TRUMP token. Here’s a detailed summary of what happened.

Crypto Trader Loses $26,820 Due to False $TRUMP News

A crypto trader experienced a substantial loss of $26,820 within a couple of minutes due to the spread of fake news about the $TRUMP token. The on-chain analytics provider Lookonchain disclosed this incident on its official social media account and warned readers to be cautious with market news and always verify its accuracy before trading. After a hacked account spread false information about $TRUMP, someone quickly created a new wallet and withdrew 504,820 $USDC from Binance to buy $TRUMP. However, once the news was confirmed to be fake, the price of $TRUMP plummeted.

CZ Denies Fake News About Binance and Trump Family Deal

CZ, the CEO of Binance, has bashed mainstream media for making up stories about him and Binance. The Wall Street Journal (WSJ) published a report claiming Trump’s family was discussing a financial deal with Binance US. The report also suggested that CZ had been pushing for a presidential pardon after his legal troubles in the U.S. CZ fired back in an X post today, saying the story was completely fake and accusing the media of trying to manipulate public perception against crypto and Trump’s administration. The WSJ article alleged that Trump’s family had been in talks about taking a stake in Binance US and that Binance reached out to Trump allies last year to re-enter the U.S. market. The report also mentioned World Liberty Financial (WLF), a crypto venture linked to the Trump family, and Steve Witkoff, but no further details about them were provided.