Two of Trump family members had their accounts compromised on Tuesday, where they spread links to a fake cryptocurrency scheme which is associated with the Trump family. This happened at the time when the former president was developing his crypto policy and combating the effects of a foreign cyber attack.
At around 8:15 pm y ET, an X account associated with Lara Trump, Donald Trump’s daughter-in-law and the co-chairperson of the Republican National Committee, disclosed what seemed to be an initial coin offering for a new digital currency platform known as World Liberty Financial. undefined 7 million followers, offered several links to a coin and websites stating that they were the sole authentic channels of World Liberty Financial.
Less than a minute later a another X account registered to the sister of the defendant’s significant other, Tiffany Trump and Donald Trumps’ daughter posted the exact same message with an included website.
These posts link to a website that was developed earlier on Tuesday and registered through an anonymous domain hosting service known as Njalla Okta LLC, at least, according to a domain search engine known as WhoIs.com. Njalla Okta, founded in St. Kitts and Nevis, was created by The Pirate Bay’s co-founder who hails from the dark-web marketplace. Such an arrangement makes it extremely difficult for investigators to ascertain the identity of the person behind the fake World Liberty Financial sites.
Shortly after the posts from Lara Trumps, the husband to the former, Eric Trump, also took to his X to write ‘This is a scam!!!.’ He was shocked to learn that his wife’s and sister’s profiles had been hacked. All these posts, including that of Eric Trump, were soon deleted but copies were made.
Trump Crypto Project Update
Representatives of the Trump presidential campaign and the Trump Organization specified that they did not wish to comment on Tuesday about the alleged hacks or the current development of the Trump crypto project. CNBC also tried to get a comment from Eric Trump through X but could not get a response as well.
This event is yet another seemingly failed attempt of the Trump family in the creation of a cryptocurrency platform. Since June, several digital tokens that claimed to be supported by the Trump team or members of the Trump family were floated into the market but CNBC could not confirm the affiliations independently.
Of the cryptocurrencies, one termed as DJT was the acronym of the ticker symbol of Trump Media Technology Group on Nasdaq. This coin attracted hundreds of millions of dollars before its two founders started pulling out the cash in early August that saw that the value of the coin drop.
Now the team behind the World Liberty Financial project has already failed to meet one of the deadlines for the scheduled announcement last week. The project comes after the former’s keynote address at the Bitcoin Conference this summer wherein he promised to establish a national Bitcoin reserve should he be elected president.
Trump has been keen to court the industry, already the biggest single source of corporate donations for this election cycle. Crypto has provided nearly half of its overall corporate contributions this cycle.
The social media posts seemed to also affect the Solana, another cryptocurrency token that Gekkoswagen associated with Tuesday’s event. After the posts, Solana’s price declined by 9% and then it was trading around $126.
Lara Trump’s post also included a governance token on Solana for the DeFi lending protocol in the World Liberty Financial. DeFi is a parallel financial system that eliminates the need for interlopers, or middlemen, by using intelligent contracts– code that executes when certain sets of conditions are met.
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