World Liberty Financial Faces Security Breach Linked to Trump-Associated Memecoin Scam
Security Breach at World Liberty Financial
World Liberty Financial, a decentralized finance project linked to Donald Trump, recently suffered a security breach. The personal account of Zach Witkoff, the project's co-founder, was hacked, leading to the promotion of a fraudulent memecoin project. The scam falsely claimed endorsement from Barron Trump, President Donald Trump's youngest son, which the company has since denied.
Company Response and User Advisory
World Liberty Financial confirmed the breach and issued a warning to users, advising them to disregard any engagement with the fake Barron Trump memecoin project. The firm is actively addressing the issue and has urged users to avoid interacting with unauthorized promotions.
Ongoing Concerns About Identity Misuse in Crypto
This incident is not isolated. Previously, Ivanka Trump alerted her followers to a similar scheme that misused her image to defraud investors. World Liberty Financial, which lists Donald Trump and several family members, including Barron Trump, as team members, launched its own cryptocurrency, WLFI, in October 2024.
The breach and unauthorized use of the Trump family's likeness underscore broader concerns about the misuse of public figures' identities in the cryptocurrency space. World Liberty Financial is taking steps to resolve the issue and prevent future incidents.
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