MAGA Crypto Scams Surge: Trump Family Ventures Blur Lines Between Legitimacy and Fraud

• Scams within the MAGA crypto space are becoming increasingly sophisticated and harder to differentiate from legitimate ventures.
• A recent incident involved fake posts from Lara and Tiffany Trump promoting a fraudulent crypto project, “World Liberty” ($WL), which Eric Trump quickly debunked.
• The Trump family has been involved in crypto ventures, blurring the lines between legitimate projects and potential grifts.
• Questions arise about the ethics and legitimacy of Trump-backed crypto initiatives like “World Liberty Financial,” which appears to be tied to a previously hacked blockchain app.

 

The MAGA internet has recently seen a surge in crypto scams, making it increasingly difficult to distinguish between genuine ventures and fraudulent schemes. One such incident unfolded when Lara and Tiffany Trump appeared to announce the launch of an official Trump-endorsed cryptocurrency project called “World Liberty” ($WL). The posts promised to empower individuals by taking control away from centralized banks and allowing them to manage their finances. However, it was quickly revealed that these posts were not legitimate.

Eric Trump, husband to Lara, swiftly debunked the posts, clarifying that both Lara and Tiffany’s accounts had been hacked. It turned out that $WL was a fake token created without the Trump family’s consent. Despite the scam being exposed within an hour, it had already swindled unsuspecting individuals out of hundreds of thousands of dollars.

This incident is just one example of the intricate scams proliferating in the MAGA crypto sphere. Another recent scam involved AI-generated videos of Elon Musk promoting a fraudulent crypto scheme during the delayed X-Spaces interview with Donald Trump. These scams prey on the loyalty and trust of MAGA supporters, making them prime targets.

However, the Trump family’s involvement in crypto ventures raises questions about the fine line between legitimate business and questionable practices. While $WL was a clear scam, the “World Liberty” crypto project is real. Reports suggest that this Trump-backed initiative is essentially a rebranded version of an existing blockchain app, Dough Finance, which had previously been hacked.

The “World Liberty Financial” project includes contributions from Trump’s sons, including 18-year-old Barron, who is touted as the project’s “DeFi visionary.” The involvement of controversial figures like Zachary Folkman and Chase Herro, known for their dubious business ventures, further clouds the legitimacy of this new Trump enterprise.

Donald Trump’s initial skepticism toward cryptocurrency, where he labeled Bitcoin a “scam” in 2021, has evolved into an embrace of the digital currency world. His shift in stance seems to be driven more by the potential financial gains than by any genuine belief in the technology.