Unidentified parties launch 'Trump Gold Token' and earn at least $330,000

iconBitMedia
Share
AI summary iconSummary
Unidentified parties launched a "Trump Gold Token" (GOLD), a new token listing that generated at least $330,000 in sales. Real Trump Coins denied any involvement, confirming it did not create, promote, or approve the token. The token’s supply was heavily concentrated, with the developer and 15 wallets holding 82.45% of the supply. These addresses sold their holdings for 3,178 SOL, netting approximately $330,000. The company is cooperating with authorities to investigate the token launch.

Real Trump Coins stated that it did not launch, promote, or authorize the release of the GOLD token, blaming "unaffiliated bad actors." The statement emerged shortly after Real Trump Coins’ verified account on X advertised the token on Saturday, August 29, directing users to RealTrumpCoins.com with promotions for GOLD. Later, the X posts were deleted, but the website’s homepage still displayed the advertisement as of Sunday morning, August 30.

Screenshot 2026-08-30 at 12.58.32.png

According to analysts at Lookonchain, the token exhibited extremely high supply concentration, suggesting a planned scam: the developer and recently created wallets controlled 82.45% of the total digital coin supply. The developer held 600 million GOLD, while 15 new wallets spent $18,657 to purchase an additional 224.5 million tokens. All 25 of these addresses then sold their GOLD for 3,178 SOL, earning approximately $330,000 from the transaction.

«Real Trump Coins has not granted and will not grant permission for the issuance, promotion, or use of any digital token», said Real Trump Coins, adding that it is cooperating with law enforcement to investigate the situation.

In September 2024, Donald Trump publicly promoted the Real Trump Coins brand when announcing the release of silver medallions, calling RealTrumpCoins.com the exclusive platform for purchasing them.

Trump and his family have supported or launched several crypto projects, including the memecoin Official Trump (TRUMP) and World Liberty Financial. These initiatives have raised concerns about potential conflicts of interest, given that the presidential administration is shaping cryptocurrency policy; however, the White House denies any violations.

Two U.S. senators proposed adding a provision to the so-called “ethical aspect” of the CLARITY cryptocurrency regulation bill that would allow the U.S. president to defer federal capital gains tax upon the sale of crypto assets. The “ethical aspect” refers to a ban on senior government officials participating in the crypto industry. Uncertainty surrounding the “ethical aspect,” which Democratic lawmakers insist on, has become one of the main reasons preventing the Senate from advancing CLARITY.


Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.