Trump Cards NFTs are now down 74% in price after a connection to a serial crypto scammer began to emerge. The NFT collection hit the market with a hype earlier last week, especially after Elon Musk, CEO of Twitter unsuspended the former president’s account. Even juicier is the fact that Donald Trump had announced that he would be running for the next elections.
The Trump NFTs sold out in just 12 hours after their launch on Truth Social:
“My official Donald Trump Digital Trading Card collection is here!”
Donald J. Trump
He posted on Thursday. Trump never used the abbreviation “NFT” in the post, but that’s indeed what the “digital trading cards” are: 45,000 NFTs on the Polygon blockchain, priced at $99 each.”
All 45,000 cards raised over $5M.
A week later and rumors are emerging that the Trump Digital Trading Card NFT Collection could be associated with a scam project called Trump Digital Trading Coin (TRUMPCOIN) that rugged its holders just 12 hours ago.
Here is the TRUMPCOIN rugpull breakdown:
- (Trump NFT Collection Creation)0x34…ad7dcf is the creator of the Trump Digital Trading Card collection on Polygon.
- 0x34…ad7dcf transfers 1 billion Trump Digital Trading Coin (TRUMPCOIN) tokens to 0xc4…cb27f3.
- 0xc4…cb27f3 adds the initial liquidity for TRUMPCOIN on Dec 16 and the token actively traded throughout Dec 16, with many buys.
- 0xae…1f7810 sells 1 billion TRUMPCOIN for ~5.4 ETH, draining the available liquidity by selling tokens they had never purchased on the market.
- The liquidity pool now sits at $5, effectively preventing the trading of TRUMPCOIN.
As you can see, the creator of the Trump Cards NFTs is also the creator of TRUMPCOIN. The wallet that drained the liquidity of the TRUMPCOIN token never purchased the tokens in the first place on the market.
Trump NFT Cards Creator is a Serial Scammer
Further research revealed that TRUMPCOIN and Trump Card NFTs creator is a serial scammer in the crypto space as he had also created the TRUMPCARDS, CCGDS, DOXX and SHIBANS tokens that followed a similar scam design.
The scammer managed to pull all these scams between Dec. 15 and 17, 2022. By Dec. 20, all the tokens had been rugged and the scammer managed to run off with a total of 43.8 ETH from all the combined tokens rugpulls.
Conclusion
Stay away from Trump NFTs or at the very least, be careful when interacting with them.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.
