On Tuesday, cybercriminals took control of the X accounts belonging to Lara Trump, co-chair of the Republican National Committee, and Tiffany Trump, the former president’s younger daughter. The hackers used these compromised accounts to push a cryptocurrency token linked to World Liberty Financial, a project recently endorsed by the Trump family.
Eric Trump, the former president’s son, swiftly denounced the fraudulent activity. “This is a scam!!!” he declared on X. “@LaraLeaTrump and @TiffanyATrump’s Twitter profiles have been compromised!!” He praised Twitter for its quick response in securing the accounts and removing the deceptive posts.
World Liberty Financial Addresses the Security Breach
World Liberty Financial has also acknowledged the breach. The fake posts were promoting their token, although the project is still in its pre-launch phase and has not yet gone live.
Donald Trump and his sons have been teasing the launch of their DeFi project, which is set to operate on the Ethereum blockchain. The new venture is expected to draw inspiration from Aave and have a design similar to Dough Finance.
Concerns Over Security Risks for New Trump Crypto Project
The upcoming Trump-backed project is facing scrutiny over potential security risks. Dough Finance, known for its borrowing and lending features, experienced a significant security breach in July, resulting in a $2.1 million loss due to flash loans.
It remains uncertain whether World Liberty Financial will encounter similar vulnerabilities. Notably, the whitepaper for the project reveals that Chase Herro, a crypto influencer and former affiliate of Dough Finance, serves as the data and strategies lead for World Liberty Financial. This connection raises further questions about the project’s security and potential risks.