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Real Trump Coins denies launching GOLD token, blames ‘bad actors’
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- DeepHorus
A cryptocurrency project linked to former President Donald Trump has denied launching a controversial token, blaming "bad actors" for its unauthorized promotion. Real Trump Coins issued a statement on Saturday clarifying that it has not authorized, launched, or promoted any digital token, including the recently appearing Trump Digital GOLD. The project stated it is working with authorities to investigate the unauthorized activity.
The denial follows the promotion of the Solana-based GOLD token on Real Trump Coins' official X account and website. The posts directed users to RealTrumpCoins.com, where the token was advertised. The X account later deleted the posts and now links to a different domain, TrumpCoins.com, causing confusion among crypto observers.
Blockchain analytics platform Lookonchain revealed that the GOLD token had a highly concentrated supply. The developer and newly created wallets controlled 82.45% of the token's total supply. Fifteen wallets linked to the team sold their holdings for approximately $330,000, securing an estimated profit of $312,000.
The incident raised questions about the security of the project's online assets. Observers noted that both the official X account and the primary website appeared to promote the same unauthorized token. The website, RealTrumpCoins.com, still displayed the GOLD promotion at the time of reporting.
This event adds to ongoing concerns regarding cryptocurrency schemes associated with the former president. A recent report from Public Citizen claimed that Trump's crypto ventures cost investors an estimated $4.7 billion. The controversy underscores the risks investors face in the volatile and often unregulated digital asset market.
Moving forward, the investigation by authorities is expected to shed light on how the unauthorized promotion occurred. The situation serves as a stark reminder for investors to exercise extreme caution and conduct thorough due diligence, especially with projects tied to high-profile figures. The integrity of the official channels for the Real Trump Coins project is now under scrutiny.
