WLFI Co-Founder Hacked to Advertise Fraudulent BARRON Meme Coin
Hackers took control of Zach Witkoff’s social media to promote a fraudulent BARRON meme coin. The post was quickly deleted, yet the token's price remained stable, highlighting ongoing risks from scams in the crypto market.
Key points:
- Political meme coin scams are increasing, targeting inexperienced investors.
- The BARRON coin was falsely linked to Barron Trump and had no legitimate connection.
- Witkoff confirmed his account was hacked and thanked those who acted quickly.
- Despite warnings, the BARRON token's price did not decline.
- Scammers have exploited political themes since the introduction of the TRUMP token, reportedly stealing $857 million within the first week of its launch.
- High-profile individuals like Vitalik Buterin express concern over rising scams linked to politicians.
- A survey indicated that 40% of TRUMP investors were new to crypto, making them targets for scammers.
- Recent hacks involving former world leaders have generated over $1 million in fraudulent gains.
- Meme coin speculation resembles gambling, damaging the industry's credibility.