Uncovering the Trump Crypto Project's DeFi Hack and Fraudulent Schemes

The Trump-backed World Liberty Financial crypto project is at the center of a multi-faceted scam involving fake giveaways, social media account hacks, and a $2 million DeFi hack. Scammers have exploited the hype surrounding the project by targeting Trump's followers with fraudulent promotions. The involvement of controversial figures and a recent security breach has further increased the risks for investors.

The Trump-backed World Liberty Financial crypto project has been exposed as a scam involving fake Telegram giveaways, hacked social media accounts, and a $2 million DeFi hack. Over 70,000 followers were targeted, and the scam has been linked to controversial figures, raising serious concerns about the project's legitimacy and investor safety. This investment scam is creating quite the stir amongst on Trump followers.

• Defendant: Scammers and hackers impersonating World Liberty Financial and exploiting Trump's name.
• Crime: Fraudulent cryptocurrency investment solicitation and DeFi hack.
• Amount Defrauded: $2 million in DeFi hack; additional amounts from misleading promotions and fake giveaways.
• Method: Use of hacked social media accounts, fake Telegram channels, fraudulent airdrop promotions, and manipulation of DeFi protocols.
• Sentence Received: No sentence yet; investigation ongoing.
• Additional Penalties: N/A.
• Investigating Agencies: Reported by Independent and Coindesk; potential law enforcement involvement in multiple jurisdictions.
• Plea: N/A.
• Prosecutor's Statement: N/A.

• August 2024: World Liberty Financial's official Telegram channel gains over 230,000 subscribers.
• Late August 2024: Fake Telegram channels begin promoting a fraudulent airdrop, promising up to $15,000 in cryptocurrency.
• Early September 2024: Hackers compromise the social media accounts of Lara and Tiffany Trump, promoting the scam.
• September 3, 2024: Coindesk reports a $2 million DeFi hack linked to the Trump-backed project.
• September 4, 2024: Further details reveal the involvement of controversial figures and an elaborate scam structure.

The Trump-backed World Liberty Financial crypto project has been embroiled in a series of fraudulent activities, including fake giveaways, hacked social media promotions, and a significant $2 million DeFi hack. Scammers targeted over 70,000 people through fake Telegram channels and social media accounts, exploiting the project's popularity and Trump's name. The involvement of controversial figures like Chris Hansen and Vin Armani has further complicated the situation, leading to a broader investigation into the project's legitimacy and its promotional tactics. The unfolding events emphasize the importance of vigilance in the crypto space, particularly regarding high-profile endorsements and new projects.