A Twitter account linked to Donald Trump promoted the $GOLD token just before wallets connected to the project sold off large quantities of the asset, fueling concerns over how association with the former president’s name can lend quick legitimacy to speculative cryptocurrency tokens.
Trump-affiliated account promotes $GOLD
The account in question, realtrumpcoins1, is followed by Donald Trump’s verified profile on X and describes itself as an official partner of The Trump Organization, the conglomerate owned by Donald Trump. The Trump Organization’s official X account has also retweeted merchandise advertisements from realtrumpcoins1, further cementing the apparent link.
Coin Bureau, a prominent cryptocurrency news resource, suggested that the $GOLD token posts may have resulted from a hack, although neither the account holder nor The Trump Organization has confirmed whether the account was compromised.
Coin Bureau drew attention to the incident, emphasizing that the account, which is closely tied to Trump’s online presence, was used to promote ‘Trump Digital Gold’ just before a significant sell-off occurred.
With visible links to Trump, the account quickly achieved a degree of legitimacy, making it easier to conduct impersonation scams targeting retail investors.
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Tokens associated with public figures, notably politicians and celebrities, continue to be used as vehicles for schemes that affect far more than just the project at hand. Chainalysis reported that on-chain scam addresses received at least $14 billion in 2025, with the figure potentially rising to over $17 billion as more suspicious wallets are identified. Impersonation scams alone increased more than 1,400% year over year.
In the case of $GOLD, investors were drawn in by the account’s high-profile links, creating urgency before any verification could take place. These incidents undermine trust in legitimate cryptocurrency ventures, many of which have to invest extra effort to rebuild credibility after such scams occur.
Large wallet concentration and token dump
Lookonchain, an on-chain analytics platform, highlighted that the $GOLD token supply was rapidly concentrated. The developer reportedly retained 600 million tokens, while 15 newly-created wallets paid $18,657 for 224.5 million tokens—allowing just a handful of holders to control over 82% of the total supply.
| Wallet Group | Number of Tokens | Value (USD) | Supply % |
|---|---|---|---|
| Developer | 600 million | – | – |
| 15 wallets | 224.5 million | $18,657 | 82.45% |
These wallets later sold their holdings, collectively offloading 224.5 million tokens in exchange for 3,178 SOL, valued at about $330,000. Lookonchain estimated profits from these tracked wallets at around $312,000, with the rapid sell-off exposing retail traders to sudden losses.
Unverified claims and the Iranian cyber link
A subsequent post from the compromised account claimed total profits exceeding $8.2 million and included inflammatory rhetoric toward buyers. ChainCatcher, a Chinese crypto news site, reported these statements but did not verify their accuracy. The post also referenced a purported $10 million bounty on Barron Trump and alleged the theft of $165 million in Solana from him. ChainCatcher characterized these claims as unsubstantiated.
Lookonchain tracked total proceeds of $330,000 and profits of $312,000 from 15 specific wallets, stressing that there is no blockchain evidence supporting the $8.2 million profit claim.
Some sources pointed to possible Iranian hacker involvement in the account compromise, though no independent confirmation has emerged. NPR noted that the timing coincided with a video from Iranian state-affiliated media threatening Barron Trump and referencing a $10 million bounty, the same amount named in the wallet post.
Cyber operations linked to Iranian groups have reportedly increased since the onset of U.S.-Israeli tensions with Iran in early 2026. The Center for Strategic and International Studies documented a rise in espionage, attacks, and cybercrime from Iranian actors during the ongoing conflict.
Mini dictionary: Center for Strategic and International Studies (CSIS) – A Washington, DC-based think tank specializing in policy research and analysis regarding international relations, including cybersecurity and state-sponsored cyber activities.
Despite suggestive data, there is no proof that Iranian actors orchestrated the $GOLD token scheme or controlled the compromised account.
Previous hacks in the Trump political orbit
The exploitation of Trump-related brands through compromised social media accounts has precedent. In February 2025, the X account of World Liberty Financial co-founder Zach Witkoff was hacked and used to advertise a fraudulent Barron Trump meme coin. World Liberty Financial warned its audience not to interact with the posts and worked to resolve the breach swiftly.
World Liberty Financial urged followers to avoid the scam, stating that Witkoff’s account had been compromised and a counterfeit Barron meme coin was being promoted.
Earlier, Ivanka Trump cautioned the public about unauthorized meme coins using her likeness for promotion without consent.
Demand for Trump-branded digital assets remains strong, with Cryptopolitan recently reporting an over 80% rally in the Official Trump (TRUMP) token amid speculation around crypto activity tied to the Trump family. The $GOLD incident has once again illuminated how rapidly a reputable account can be leveraged in schemes, reinforcing concerns about the ability of reputation itself to be weaponized in the world of cryptocurrency.
