BlockBeats news, on September 11, Democratic Congressman Waters (California) used the example of World Liberty Financial, a cryptocurrency lending platform promoted by Trump and his sons, at a hearing on Capitol Hill to highlight the higher risks consumers face in the DeFi field.
Last week, the Twitter accounts of Trump's daughter Tiffany Trump and Republican National Committee Chairwoman Lara Trump (Trump's daughter-in-law) were hacked. Under the control of hackers, these accounts promoted fake tokens issued by World Liberty Financial in an attempt to defraud potential buyers. "Due to the popularity of the people behind the project, criminals took advantage of this opportunity to defraud potential users," Waters said. "Legislators have a responsibility to consider developing strong protections to prevent such scams from happening."
According to Trump's son Eric Trump, Twitter blocked the social media accounts controlled by hackers "within minutes." But Waters pointed out that many people were still actually harmed by this and bought about $1.8 million worth of fake tokens that were actually unrelated to the project.