Attention Investors: A Word of Caution!
This bull cycle, marked by the rise of meme coins, has seen the Trump family join the fray, causing a stir in the crypto world. On January 18, Donald Trump’s meme coin, TRUMP, was launched, and its price quickly soared to dizzying heights. Melania Meme (MELANIA) followed suit, with its market cap reaching over $2 billion at one point.
However, scammers are taking advantage of the trend, creating fake websites to trick unsuspecting victims into connecting their wallets to dubious resources. According to a recent report, these malicious websites ask for the seed phrase from the wallet, allowing fraudsters to “hijack” a crypto wallet or connect malware to withdraw funds.
To Buy or Not to Buy TRUMP?
While the price increase of TRUMP allowed some traders to make a profit, the hype has seemingly died down, and many industry insiders have criticized the launch of such zero-value assets. Investors should be aware of the risks and enhanced volatility of these types of assets and conduct proper due diligence before making a decision.
Remember, a healthy dose of skepticism is always a good thing in the world of crypto!
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2025-01-23 18:28