Trump-Linked Crypto Partners Abandon Dough Investors After $2.5M Hack

Chase Herro and Zachary Folkman, cryptocurrency partners associated with former President Donald Trump, have left investors in Dough Finance facing significant losses following a $2.5 million hack. The duo has since moved to World Liberty Financial, taking $65 million in gains while disregarding their former clients.

Among those affected is Jonathan Lopez, an American writer and art historian, who invested $1 million into Dough Finance in May 2024. The platform, co-founded by Herro, offered high-risk margin trading strategies that promised amplified profits through Leveraged crypto purchases. Herro personally advised Lopez, charging a 5% fee on the investment while encouraging aggressive risk-taking.

The situation unraveled on July 12, 2024, when hackers exploited vulnerabilities in Dough’s systems, siphoning off $2.5 million—including Lopez’s entire investment. The incident highlights the dangers of unregulated crypto ventures and raises questions about accountability in decentralized finance.