The Trump family’s venture into cryptocurrency has inadvertently paved the way for scammers. A fraudulent memecoin, “$BARRON,” allegedly representing Barron Trump, has surfaced on the Solana blockchain. The scam token was announced via a fake X (formerly Twitter) account impersonating Barron Trump.
Beware of Fraudulent ‘$BARRON’ Memecoin
Trading at $0.0624, $BARRON has already captured attention, with a reported 24-hour trading volume of $813 million and a market cap of $55.53 million.
Warnings from Crypto Insiders
Crypto insiders have been quick to call out the scam. X user @Wrennounced warned investors not to fall for it, while another user, @ratwell0x, revealed the account’s previous usernames as “tantemeilany” and “trumpwbarron,” exposing the X account’s suspicious origins.
Despite these warnings, opportunistic traders have jumped in. One whale spent 506,715 FARTCOIN (worth $1.17 million) to acquire 4.25 million $BARRON tokens, only to sell them for 77,175 FARTCOIN (worth $159,839), incurring a loss of over $1 million in just two hours.
Crypto Returns for $TRUMP and $MELANIA
Meanwhile, the original Trump family memecoins i.e, $TRUMP and $MELANIA—have seen profits and losses for investors.
A whale, “GV9kv…JA9Ad,” capitalized on $TRUMP volatility, spending $8.06 million to buy the dip after making $6.67 million in profits by trading the token.
Conversely, another whale, “A3ZcnX…wjm6Sg,” spent $22 million on 2.1 million $MELANIA tokens at an average price of $10.50. A partial stop-loss order at $7.54 triggered a 25% loss, leaving the address with an unrealized loss of over $10.6 million (-65.04%), the largest unrealized loss in $MELANIA.
Also Read: President Trump Expected to Issue Crypto-Friendly Executive Orders: Circle CEO
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