X accounts belonging to Lara Trump, the daughter-in-law of former US President Donald Trump, and Tiffany Trump, his daughter, were compromised to promote a cryptocurrency token associated with DeFi project World Liberty Financial.
Fake posts from these accounts falsely claimed that the cryptocurrency token, which resides on the Solana blockchain, is backed by the Trump family and is part of a DeFi lending protocol.
World Liberty Financial also issued a statement advising people to ignore links or purchase attempts from hacked accounts.
“DO NOT click on any links or buy any tokens shared from their profile. We are actively working to fix this issue, but please stay vigilant and avoid scams!”
Source: World Liberty Financial
Lara Eric Trump's husband has confirmed that both accounts were hacked, warning followers to stay away from the scam, saying X locked both accounts “within minutes.”
Some eagle-eyed X users have claimed that these accounts made announcements before being deleted to promote memecoins on Solana, pointing out that both Eric and Donald Trump had previously said that no memecoin would be launched.
Source: Chase
Cryptocurrency trading tool DEX Screener shows that the addresses in the fake posts have been active for a while.
During that short period, the token reached a peak trading volume of 1.37 million and a peak price of 0.0053 before completely losing all its value.
Source: DEX Screener
“I think this is really damaging to Trump’s election prospects, especially since if it gets hacked it will be the most attractive DeFi target ever and it’s forked from a protocol that was already hacked,” Nic Carter wrote in a September 4 post on X.
Details about World Liberty Financial remain limited.
The World Liberty Financial platform is set to be a borrowing and lending protocol similar to the DeFi protocols that currently exist in the crypto space.
Trump himself has posted a number of cryptic tweets regarding the new project, vaguely positioning it as a service that will help users avoid traditional banking and make the United States the “cryptocurrency capital” of the world.
The official Telegram group of the Liberty project has attracted more than 219,000 subscribers.
Since declaring he would support the industry if re-elected as president in November, Trump has received strong support within the crypto community.
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