The Solana-based memecoin Trump Digital Gold (GOLD) lost almost all of its value after surging to a market capitalization of more than $60 million within roughly two hours of its launch. The token was promoted through an official social media account linked to Donald Trump, but the account may have been hacked, according to emerging claims.
GOLD reached a market capitalization exceeding $60 million after launching in the morning. Its value then fell rapidly to approximately $10 million before briefly recovering to around $36 million as selling pressure intensified.
Within minutes, the token’s market value reportedly plunged by more than 95% in a single minute, reaching approximately $1.8 million. After the promotional post was deleted, GOLD’s market capitalization reportedly declined further to around $600,000.
GOLD Token Promotion Raises Hacking Suspicions
The token was initially introduced by the @realtrumpcoins1 account, which sells official Trump-themed collectible coins and medals. Because the account operates as an official partner of The Trump Organization, some observers initially speculated that GOLD could be associated with the Trump family.
However, neither the Trump family nor The Trump Organization provided further confirmation of the project. The lack of an official follow-up fueled speculation within the cryptocurrency community that the account had been compromised and that attackers launched the GOLD token.
The initial promotional post reportedly received approximately 400,000 views.
Posts Promoting GOLD Deleted
The original post announcing GOLD was later removed from the @realtrumpcoins1 account. A subsequent post from the account reportedly stated, “More to come, invest and wait,” but it was also deleted shortly afterward.
The later removal of all GOLD-related content from the account was interpreted by social media users as a possible indication that the account had been recovered by its owners.
In the latest post allegedly published by the person who supposedly hacked the account, the individual claimed that the GOLD launch generated more than $8.2 million in profits.
The alleged attacker also claimed that the funds would be used for a bounty targeting relatives of US President Donald Trump. That post was later deleted.
Iranian Hacker Claims Remain Unverified
Following the incident, allegations emerged that individuals with connections to Iran may have carried out the attack. The claims were linked to reports in Israeli media about an earlier Iranian state television program that discussed ways to contact Donald Trump’s son, Barron Trump.
According to those reports, the approximately three-minute broadcast showed locations and online platforms allegedly associated with Barron Trump. It also made various claims about Trump’s son’s social circle and the US Secret Service’s security system.
However, the reported claims are said to rely largely on fabricated images, and no evidence has been presented to show that actual contact was made with Barron Trump.
As a result, claims connecting the GOLD incident to Iranian hackers have not been independently verified.
On-Chain Data Shows Concentrated Token Holdings
Blockchain data showed significant activity in newly created wallets allegedly linked to the GOLD project team after the token launched.
According to the shared data, 15 newly created wallets allegedly associated with the project sold a combined 224.5 million GOLD tokens. The sales generated approximately 3,178 SOL, worth around $330,000 at the time of the transactions.
After accounting for the wallets’ initial costs, the transactions were estimated to have produced approximately $312,000 in profit, equivalent to roughly a 17-fold return on investment.
On-chain data also indicates that these addresses continue to hold a substantial amount of GOLD, suggesting that the token supply remains concentrated among a limited number of wallets.
This is not investment advice.