The Trump family’s cryptocurrency venture has unwittingly paved the way for scammers. A fraudulent memecoin, “$BARRON,” allegedly representing Barron Trump, has appeared on the Solana blockchain. The scam code was announced via a fake X (formerly Twitter) account impersonating Barron Trump.
Beware of scam Memecoin “$BARRON”.
BARRON was trading at $0.0624 and has already garnered attention, with 24-hour trading reported Amount With a value of $813 million and a market value of $55.53 million.
Warnings from crypto insiders
Cryptocurrency insiders were quick to expose the scam. X user @Wrenounced warned investors not to fall for it, while another user, @ratwell0x, warned, open Previous usernames of the account such as “tantemeilany” and “trumpwbarron”, revealing the suspicious origins of the X account.
Despite these warnings, opportunistic traders jumped in. One whale spent 506,715 FARTCOIN (worth $1.17 million) to acquire $4.25 million in BARRON tokens, selling them for 77,175 FARTCOIN (worth $159,839), sustaining a loss of over $1 million in just two periods. hours.
Returns encryption for $TRUMP and $MELANIA
Meanwhile, the Trump family’s original meme coins, such as $TRUMP and $MELANIA, saw gains and losses for investors.
The whale, “GV9kv…JA9Ad,” took advantage of the Trump Dollar’s volatility, spending $8.06 million to buy the dip after making $6.67 million in profits by trading the token.
Conversely, another whale, “A3ZcnX…wjm6Sg,” spent $22 million on $2.1 million MELANIA tokens at an average price of $10.50. A partial stop loss order at $7.54 resulted in a 25% loss, leaving the address with an unrealized loss of over $10.6 million (-65.04%), the largest unrealized loss in $MELANIA.
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