Scammers Exploit TRUMP Memecoin to Launch Fake Tokens
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Scammers have significantly increased their activities by launching thousands of fake tokens using the TRUMP memecoin as a front. This has led to a 206% surge in the number of tokens associated with the former president's name. Additionally, these fraudulent actors have extended their scheme by creating tokens named after other members of the Trump family, such as Melania and Barron, resulting in a 592% increase in tokens referencing the Trump family. Notably, one of the counterfeit BARRON tokens briefly reached a market capitalization of $450 million before plummeting by over 95%. The scammers employed deceptive branding to mislead investors into believing these tokens were legitimate.
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