Real Trump Coins denies launching GOLD token, blames ‘bad actors’
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Real Trump Coins has denied any involvement in launching or promoting the Trump Digital GOLD token that appeared briefly on its platforms but then collapsed. The company blamed "third-party bad actors" for the unauthorized promotion seen on its X (formerly Twitter) account and website RealTrumpCoins.com. Real Trump Coins stated it is cooperating with authorities to investigate the incident.
Why it matters
The source highlights that the apparent token launch caused confusion among crypto users due to the involvement of Real Trump Coins’ official online presence, which could impact users who interacted with the token. The denial underscores risks relating to platform security and unauthorized token launches in the crypto space.
Key context
The Trump Digital GOLD token was promoted on a Solana blockchain and exhibited a highly concentrated distribution, with the developer and certain wallets controlling a large majority of the supply. Blockchain analytics indicated sales of the token by team-linked wallets generated approximately $330,000 in revenue. The Real Trump Coins X account redirected users between two different domains, adding to the confusion over the token’s legitimacy.
Key numbers and entities
Real Trump Coins, the Trump Digital GOLD token, X (formerly Twitter), blockchain analytics platform Lookonchain, and domains RealTrumpCoins.com and TrumpCoins.com are mentioned. The token supply was 82.45% controlled by developers and wallets, with sales totaling about $330,000.
What remains unclear
The source does not clarify how the Real Trump Coins X account and website were compromised or the identity of the "third-party bad actors." It also does not detail potential regulatory or legal consequences or the investigation's progress.