The launch of the TRUMP meme coin led to a flood of scams in the crypto market, with 6,800 fraudulent tokens and 91 fake dApps appearing within a short period, according to analysts. The TRUMP coin gained significant attention and achieved a market cap of $72 billion within 48 hours of its release. Scammers quickly took advantage of the hype, flooding the market with fake tokens that mimicked the TRUMP coin. Fake applications also saw a sharp increase, with over 90 appearing in just 24 hours. The scammers targeted other tokens referencing members of the Trump family as well, creating the illusion of an interconnected ecosystem. The decentralized nature of cryptocurrency makes it challenging to distinguish legitimate tokens from fraudulent ones, exposing users to significant risks. Blockchain forensic firm Blockaid has been working to prevent users from engaging with these malicious assets.



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