Scammers Defraud $857 Million by Issuing Fake Leader Tokens Following TRUMP Crypto Craze

BlockBeats News, January 24th, according to Global Ledger analysis, scammers have exploited the hype around the Trump Meme coin to steal over $857 million from the crypto market in the past week.

It is reported that the scammers created tokens representing other world leaders, sent these tokens to major TRUMP wallet holders to seek legitimacy, and then carried out a "Rug" scam.

Last Saturday, Donald Trump launched a Meme coin called TRUMP, igniting a frenzy in the crypto market.

The scammers took advantage of the token's popularity by sending fake coins to wallets associated with the TRUMP team and its creators. Crypto traders closely monitored these wallets and mistakenly purchased these worthless tokens.

They mistakenly believed that the TRUMP coin team was intentionally buying these tokens and had insider information. The scammers anticipated this behavior and capitalized on it.

According to the Global Ledger report, at least $857.5 million was scammed through four fraudulent tokens associated with international personalities (JMilei, MELON, WTRUMP, PUTIN). (beincrypto)