An account officially affiliated with The Trump Organization's physical collectibles line was compromised on August 29 and used to promote Trump Digital Gold, a newly launched Solana token trading under the ticker GOLD. The token's market capitalization collapsed more than 95% within approximately 60 seconds of the initial promotion.
The @realtrumpcoins1 account, recognized as an official partner of The Trump Organization for physical collectibles, was hijacked and directed users toward the token. During the brief window of promotional activity, GOLD's market cap fell from its peak to approximately $1.8 million, with subsequent reports showing further decline to roughly $600,000.
Rapid Value Destruction
The project team liquidated 224.5 million GOLD tokens during the hype phase, generating an estimated $312,000 in profit. The hacker later claimed the overall GOLD issuance had produced more than $8.2 million in total profits.
Once the compromised account was recovered, all posts related to GOLD were removed.
Prior Context
Previous incidents have seen hacks of accounts related to Trump family members used to promote fraudulent tokens. Eric Trump has publicly stated that unauthorized uses of the Trump name for token issuances are fraudulent, though the Trump family also operates legitimate token ventures, creating confusion in distinguishing authentic projects from scams.
Speculation within the crypto community has pointed toward Iranian hackers as the likely perpetrators based on patterns observed in the attack and political messaging in the hacker's communications.
