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An account officially affiliated with The Trump Organization’s physical collectibles line was compromised and used to shill a freshly minted Solana token called Trump Digital Gold. The token’s market cap cratered over 95% within roughly 60 seconds of the initial promotion, leaving a trail of wrecked portfolios and deleted tweets.
The @realtrumpcoins1 account, recognized as an official partner of The Trump Organization for physical collectibles, was hijacked on August 29. While the account was under the hacker’s control, it pushed a brand-new meme token trading under the ticker GOLD, riding the familiar playbook of slapping the Trump name on a token and watching retail money pour in.
Anatomy of a 60-second collapse
GOLD launched on Solana. The compromised account’s endorsement triggered a burst of trading activity, briefly inflating the token’s market capitalization before gravity took over.
Within a single minute, GOLD’s market cap plummeted by more than 95%. It fell from its peak to roughly $1.8 million, with subsequent reports showing it sliding further to approximately $600K.
The project team behind the token liquidated 224.5 million GOLD tokens during the brief window of hype. That sell-off netted an estimated $312K in profit, a 17x return on the initial investment.
The hacker later claimed that the entire GOLD issuance had generated over $8.2 million in profits. They alleged the funds would be used to finance a bounty targeting associates of President Donald Trump.
The Iranian hacker connection
Speculation within the crypto community has pointed toward Iranian hackers as the likely perpetrators. The theory gained traction based on patterns observed in the attack and the political messaging embedded in the hacker’s final post about targeting Trump associates.
Prior incidents have seen hacks of accounts related to Trump family members used to promote fraudulent tokens. Once the @realtrumpcoins1 account was recovered, every post related to GOLD was scrubbed.
Eric Trump has publicly stated that unauthorized uses of the Trump name for token issuances are fraudulent. That’s a useful clarification, though it arrives in a landscape where the Trump family has its own legitimate token ventures, creating a confusing environment where distinguishing real Trump-branded crypto projects from scams requires more diligence than most retail traders are willing to invest.
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