On September 4, two X accounts linked to Donald Trump’s family, Lara and Tiffany Trump, were compromised, casting doubt over the security of his new DeFi project. The hackers posted fraudulent crypto links to their accounts.
This was remedied immediately, but it raises questions about whether there are similar risks in Trump’s decentralized finance program, World Liberty Financial. Eric Trump, however, revealed that the page had been hacked and urged people not to interact with it until further notice.
The accounts reportedly had been peddling a fake cryptocurrency before X suspended them, and the incident has raised concern among Trump’s project supporters.
Donald Trump Family X Accounts Hacked in Crypto Scam
Before its shutdown, the fake token had a trading volume of $1.37 million at its highest. However, it fell rapidly and almost to zero.
World Liberty Financial, Trump’s DeFi project, warned users through its official Telegram channel. They encouraged the public to continue exercising caution until security measures were enhanced. Still, the group has more than 219,000 subscribers, which indicates interest in the project.
Donald Trump’s DeFi Venture Faces Growing Scrutiny
This incident raises questions about the security of Trump’s DeFi venture, given that the coins were stolen from the platform. It has been subject to criticism; for example, some believe it may damage Trump’s political career.
Even though decentralized finance is relatively new, security is a major concern because criminal actors often attack such platforms. Critics have said that the World Liberty Financial platform would be vulnerable to hacking due to its political affiliation.
Carter, a well-known X user, was worried about the project’s security, saying it could hurt Trump’s chances if proper security measures were not implemented. The project has been developed on a protocol that has been compromised in the past and, therefore, attracts more attention.
Nevertheless, the platform emphasizes borrowing and lending services like the other DeFi protocols. This has put the platform in a position to assist users in avoiding conventional banking systems. He has also discussed making the United States the leading country in cryptocurrency.
Donald Trump’s recent comments about cryptocurrency have gained popularity among the crypto audiences. This is where the World Liberty Financial platform comes in; it seeks to leverage this support by providing decentralized finance services to the users.
In case of victory in the election, Trump has stressed that the project would become one of the key elements of his vision for developing the US economy. While he has not said anything directly regarding the hack, his indirect messages on X indicate that he remains positive about the project’s prospects.
People who support the social network believe that the problem with the security breach will not affect the platform’s image for a long time. Donald Trump’s sons have also endorsed the platform, leading to high anticipation of the launch.