Russian security firm FACCT is warning holders of the new $Trump and $Melania memecoin to be cautious of fraudsters who are trying to target their crypto wallets.

Maria Sinitsyna, a senior analyst at FACCT, revealed that in recent days, scammers have launched many phishing websites that are aimed at luring victims and stealing funds from their wallets.

Tapping on the hottest and more popular Meme Coin right now

Sinitsyna noted that her team uncovered over a dozen phishing sites that were mimicking the newly launched $TRUMP and $MELANIA, because of the amazing attention and demands that both these memecoins were getting.

“Fraudsters have been using news about US President Donald Trump as part of various scam schemes for some time. But attackers are now taking advantage of the news about the release of the $TRUMP and $MELANIA tokens to create crypto phishing sites.”

These fake websites often lure victims to participate in events that seemingly looked like were related to the $TRUMP and $MELANIA token. At some point, the victims would be prompted to enter their wallet seed phrases, giving scammers access to their funds.

Sinitsyna also warn fans against another type of scammers who pose as crypto exchanges, claiming to offer tokwen swaps for $TRUMP coins, but in actuality are funneling all of its victim's funds directly into their own wallets.

"Cryptocurrency holders should be careful when using web-based resources and tokens created on the back of major news events. If you link your crypto wallets to dubious sites, you may fall victim to fraud. You could potentially lose all of your crypto funds."

The risks of playing with memecoins

The $TRUMP meme coin launched on January 18, followed by the debut of the $MELANIA token the next day. However, experts believe that these meme coins carry significant risks.

Vladislav Antonov, a financial analyst at BitRiver, described the investment in memecoin as a very risky endeavor, as meme tokens are highly volatile and are often created solely for speculative purposes.

But experts believe that despite the high risk, it will still continue to attract many new investors and explode in popularity in 2025. This is especially true since many singers and celebrities will continue to release new memecoins, and their fans will undoubtedly flock to buy their favourite artist's memecoins.

"Soon, it will not only be the American President who is issuing memecoins. It will also be other notable business and pop culture icons. By the end of 2025, the likes of Elon Musk may announce the release of their own coins. The launches may be timed to coincide with major events or reforms."

The $TRUMP and $MELANIA tokens have gained special attention from fans because the token was part of history, given how the token was released on the day and one day after the inauguration of Trump.

"Trump memecoins are being marketed as 'a piece of history.' and that is helping memecoins stand out in the world of cryptol. This is especially the case if it comes from the US President, who is supported in every sense by the business tycoon Eln Musk."

But Sirotkin stated that as a conservative investor himself, he won't invest his money into these kinds of assets.

He also speculated that the Trump-themed memecoin ultimately inevitably faces the same fate as all of its predecessors and ultimately collapses.