Scammers made over $1 million in profit after creating a Donald Trump-themed gold coin and pulling off a rug pull, according to onchain analyst EmberCN, who reported the incident on X. The token, Trump Digital Gold, launched on Solana.

The token gained traction and attracted investors after Realtrumpcoins, an account followed by President Trump and identified as a collaboration account for Trump merchandise, posted about it on X (formerly Twitter). There is speculation that scammers hacked the account to make the post.

How the Trump GOLD Rug Pull Happened

According to Lookonchain, Trump Digital Gold launched with a total supply of 1 billion tokens. The developer controlled 60% of the supply, while 15 newly created wallets bought 224.5 million tokens for $18,657 shortly after launch.

With the team controlling 82.45% of the supply, Realtrumpcoins posted about the token and included its contract address. The post was enough to send the GOLD token price surging, with its market cap reaching $66 million at its peak.

However, the tweet was deleted about two hours later as the team's address began selling the token. Within 30 seconds, the token's market cap fell from $55 million to $1 million while the team continued dumping holdings. The team has now sold all 824.54 million tokens it was holding, making 9,784.6 SOL in the process.

The pattern — a post from a compromised or impersonated high-profile account driving a rapid pump before insiders dump concentrated holdings — is a recurring one in crypto. Rug pulls, in which token creators drain liquidity or sell pre-allocated supply after attracting buyers, have ranked among the most common forms of cryptocurrency fraud in recent years, according to FBI Internet Crime Complaint Center reporting, and low-cost token launch platforms on chains like Solana have made such schemes cheap and fast to execute.

Speculation Grows About the Trump Gold Scam

The incident highlights how scammers continue to rely on familiar tactics to defraud crypto investors. According to observers, buyers legitimately believed the token was real because Trump follows the Realtrumpcoins account. Celebrity- and politician-themed tokens have repeatedly been used to lend false credibility, and official-looking endorsements from verified or mutually followed accounts have become a key trust signal scammers exploit.

However, Eric Trump had recently warned that the Trump family was not planning to launch any coin. This did not stop people from buying into the fake token when it launched.

Notably, the Realtrumpcoins account has not issued any statement about being hacked or compromised, even after the post was deleted. This has fueled speculation that insiders may have been involved if it was not a hack.

One user claimed that the scammers took control of the Realtrumpcoins website after its domain expired, and reportedly used the domain to gain access to the business email and hack the X account. The claim, if accurate, would echo a wider pattern of attackers hijacking brands through expired domains and associated email accounts — a tactic security researchers have documented across crypto and other industries. Whether any recovery or investigation follows remains to be seen, as no official statement has been issued by the affected account.