Jul 2024 - TRUMP (MAGA) Fake Token Rug Pull - $958k (Global)
"MAGA Movement on the Blockchain. Buy with Ethereum Buy with Solana The #1 ranked token in Politifi. We’ve raised more funds for U.S. Veterans and Child Tracking Prevention than any other cryptocurrency on the market."
"Please be advised that MAGA Memecoin is a cryptocurrency created for entertainment purposes and is not affiliated with or endorsed by Donald J. Trump. While MAGA Memecoin may reference or incorporate elements related Trump’s persona, image, or likeness, it does not imply any direct endorsement, partnership, or approval by Trump. Any resemblance or association between MAGA Memecoin and Donald J. Trump is purely coincidental and intended for satirical or humorous purposes."
$957,552
"The Fake $MAGA on BNBChain is suspected to be Rugpull, and the current token price has dropped by 100%.
*Note*: The #rugpull token shares the same name as the legitimate ones."
"SharkTeam reminds you to be highly vigilant and guard against fraud scams."
Further Analysis
In a world of various unofficial MAGA tokens since 2021, none appear to be officially backed by Donald J Trump. One particular token of the same name completed a rug pull, netting the creators close to a million dollars. Other than a couple tweets, is anyone paying attention? It is unclear who is even chasing those funds for recovery.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
MintRisesPrices (WMRP) Reentrancy Price Manipulation Attack > > < < Pengfei.eth Link Phishing Inferno Drainer
Sources/Further Reading
SlowMist Hacked - SlowMist Zone (Dec 31)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan
(Dec 31)
MAGA price today, TRUMP to USD live price, marketcap and chart | CoinMarketCap (Dec 31)
@CryptoZ44368 Twitter (Dec 31)
@ChainAegis Twitter (Dec 31)
@magaacto Twitter (Dec 31)
@MagaXMemecoin Twitter (Dec 31)
@DammitKAdler Twitter (Dec 31)
@MAGACOIN_ Twitter (Dec 31)
@Anurag_1424 Twitter (Dec 31)
@MAGA_hat_base Twitter (Dec 31)
@CryptoZ44368 Twitter (Dec 31)
 t.me/QuadrigaInitiative
|
 /r/QuadrigaInitiative
|
 @QuadrigaInit
|
 info@quadrigainitiative.com
|