Fraudulent Tokens Emerge Amidst TRUMP and MELANIA Meme Coin Craze

In the days leading up to US President Donald Trump’s inauguration, meme coins bearing his name surged in popularity, prompting opportunistic traders to flood the market with imitation tokens of the official Trump Official (TRUMP) and Melania Official (MELANIA) coins on the Solana network.

According to data from aggregator Birdeye, 20 January saw the launch of thousands of new meme coins with tradeable liquidity on Solana.

Of these, 61 tokens closely mirrored the original TRUMP and MELANIA branding—using identical ticker symbols, logos, and descriptions—amassing $4.8 million from 12,641 wallets within just 24 hours.

The analysis excluded satirical tokens and those that clearly distanced themselves with disclaimers, focusing only on direct impersonators.

These fraudulent tokens represent a small fraction of the wider influx of scams infiltrating the market.

A report by Web3 security firm Blockaid revealed a sharp rise in scam activity, with the number of malicious tokens containing “Trump” in their name jumping from a daily average of 3,300 to 6,800 on the day of the official TRUMP token’s debut.

Alan Orwick, co-founder of layer-1 blockchain project Quai Network, explained that scammers are exploiting the visibility of high-profile launches, leveraging the excitement around legitimate tokens to deceive investors.

Orwick explained:

“Many tokens exhibit signs of potential rug pulls, characterized by high trading volumes with little to no liquidity or fundamental value.”

Many of these counterfeit tokens artificially inflate trading volume to attract unsuspecting buyers, while others employ rug-pull schemes—draining liquidity and leaving investors with worthless holdings.

All 61 Imitation Tokens Could Drain Investor Funds

At the time of analysis, 38 fraudulent TRUMP tokens and 23 MELANIA tokens were actively trading on Solana decentralised exchanges (DEXs).

Of the fake TRUMP tokens, only nine held liquidity exceeding $10,000—an essential threshold for stable trading.

Low liquidity often results in high slippage and price manipulation, exposing buyers to financial risks.

Within 24 hours, six of these tokens had their liquidity completely drained, effectively executing rug-pulls on unsuspecting investors.

Another token saw its liquidity plummet from $54,000 to just over $10,000.

Of the remaining two TRUMP tokens, one remained stagnant with no trading activity, while the other had 99% of its total supply concentrated in just two wallets—raising concerns over potential sell-offs by major holders.

Similarly, among the MELANIA token imitations, only four had liquidity above $10,000 at the time of analysis, while two had already been drained.

Within a day, another MELANIA token lost its liquidity, leaving just three with intact pools—all exhibiting a high concentration of ownership, putting smaller investors at risk.

Scammers often manipulate token metrics to mislead investors, inflating market capitalisation or fully diluted valuations (FDV) to create a false sense of legitimacy.

Steno Research senior crypto analyst Mads Eberhardt warns that such figures are frequently exploited to lure in unsuspecting buyers.

Eberhardt said:

“I would not trust any metrics associated with cryptocurrencies that imitate others. They have strong incentives to artificially inflate their metrics to appear legitimate.”

Popular X Accounts Used in Scam Token Promotions

Bad actors have attempted to exploit the launch of the TRUMP meme coin by promoting fraudulent tokens falsely linked to Donald Trump.

In one instance, the X account TrumpDailyPosts, which shares Trump’s Truth Social updates, was reportedly compromised to promote fake tokens such as POWER and WIN.

The account shared contract addresses and fabricated screenshots suggesting Trump’s endorsement of these tokens, though some speculate the posts may have been intentional rather than the result of a hack.

Beyond these immediate scams, opportunists have also fuelled speculation that Trump's team plans to release additional tokens.

One X account falsely claimed a USA coin would launch on 24 January, a rumour that was swiftly debunked by Trump’s son, Eric Trump.

Similar unfounded claims have circulated about potential Trump-related token launches on Ethereum.

In response to these fraudulent activities, BlockAid has urged the crypto industry to shift its focus from solely relying on user vigilance to implementing stronger security measures at the development level.

While users are often advised to exercise caution, BlockAid argues that enhancing security infrastructure within crypto firms and developer practices is a more effective approach to fostering trust and driving broader adoption.

TRUMP and MELANIA Token’s Launch Accused of Profit-Making

President Trump is facing criticism on social media, with many accusing him of launching his meme coin purely for profit—an argument further fueled by the release of the MELANIA token.

While TRUMP and MELANIA remain the only officially endorsed tokens, opportunists have created tokens named after other family members, resulting in significant investor losses.

According to on-chain analytics firm Lookonchain, one investor reportedly lost nearly $1 million on a fraudulent token branded as BARRON, referencing Trump’s youngest son.

Scams involving fake Trump-themed tokens have been rampant even before his 2024 election victory.

In August, a counterfeit Trump token surged to $150 million in trading volume before Eric Trump publicly denied any affiliation with it or other similar projects.

As speculation around Trump-branded tokens continues to grow, investors are urged to remain vigilant against fraudulent schemes exploiting the former president’s name and image.

Tokens Named After Other Trump Family Members?

The crypto wallet associated with CIC Digital—the Trump-affiliated entity controlling 80% of the official TRUMP token supply—has been receiving transfers of tokens named after other Trump family members.

One such token, branded as “Official Ivanka Trump,” has fuelled speculation about a potential new meme oin launch, promising to create more overnight millionaires.

However, no official confirmation has been provided regarding the legitimacy of these projects.

According to crypto analyst Orwick, scammers are exploiting the hype and FOMO (fear of missing out) surrounding the Trump-themed tokens, preying on inexperienced investors who rush into speculative buys, often ending up with worthless assets.

The influx of fraudulent tokens raises a pressing question—was the Trump family’s foray into meme coins simply a case of unfortunate timing, or was an onslaught of scams an inevitable consequence of its massive publicity?