Trump-Themed Meme Coins Spark Surge in Scams Targeting Investors

The soaring popularity of Donald and Melania Trump-themed meme coins has created fertile ground for scammers to exploit unsuspecting investors.

Cybersecurity firm F.A.C.C.T. (formerly Group-IB) has identified more than ten fraudulent websites designed to target those trading TRUMP and MELANIA tokens, leading to significant financial losses and eroding trust in the meme coin market.

Scammers use deceptive websites to trick users into connecting their crypto wallets, often under the guise of verifying token transactions. Once access is granted, these bad actors request seed phrases or directly steal funds from the wallets. By mimicking legitimate token addresses, they create a false sense of security, making it easier to deceive their victims.

The TRUMP token, launched on January 17, 2025, reached a staggering $11 billion market cap on its first day, followed by the MELANIA token two days later with similar success. However, this attention also attracted fraudsters eager to exploit the hype. The speculative and highly volatile nature of meme coins makes them a prime target for scams, leaving many investors vulnerable to financial losses.

This isn’t the first time the meme coin market has seen major scams. Past examples include tokens like $HAWK, which collapsed after a brief surge fueled by influencer promotion, and a fake STONKS token promoted via a hacked Nasdaq social media account. These incidents highlight how easily the market can be manipulated.

To avoid falling victim to these scams, investors should verify token platforms, never share sensitive wallet information, and use secure wallets to safeguard their assets. As scams become more sophisticated, it’s increasingly important for regulators to implement stricter oversight to protect the growing number of participants in the meme coin space. Until then, caution and due diligence remain critical for navigating this high-risk market.