Bitcoin Forum

Now what can we call this or regard this as?

https://www.talkimg.com/images/2025/06/03/UX7wuI.jpeg (https://x.com/bitcoinmagazine/status/1929943367892283828?s=46)

This was a tweet from Bitcoin Magazine, which was stating that the Trump Foundation is launching their own bitcoin and trading app. Just a few minutes later,  Trump Jr. made a tweet  (https://x.com/donaldjtrumpjr/status/1929965961341247842?s=46) about it, passing a warning that they don't have anything to do with the project.

Could this be a potential scam attempt targeting Trump and his family supporters? Are scammers trying to use the family and the plan for a crypto wallet to scam victims? Most of the tweets shared online about this news have a link to a website with the said wallet name attached to it, which I suspect could be a scam link.

If you must know anything is possible and scammers are always trying to use the trending to scam victims of their heart earned money from them. It's great that Official Trump responded to the tweet and makes himself clear from that project otherwise people could have fluke around the project with the intention to be the real President launching cryptocurrency exchange and wallet while he is not.
Newbies should be very mindful and stay vigilant anywhere they are!

I am surprised that a large and reputable crypto-based news portal like Bitcoin Magazine has publicly published such big information without verifying it.  Since Donald Trump Jr. has already announced that the Trump Organization has no connection with that app, there is a high chance that it is a scam.

Anyway, Bitcoin Magazine also already retweeted and updated regarding this on their official x account. Even then I am thinking maybe they will have to be held accountable in court for this incident. >:D

https://www.talkimg.com/images/2025/06/03/UX7RuD.png

https://x.com/BitcoinMagazine/status/1929966661207240992

Trump’s name is being used a lot in crypto right now, and since he’s a president, a lot of people might fall for scams like this.

The scammers’ plan is very well thought out, download a wallet, send some crypto, and boom, instant money for them.

That’s why we always need to be careful. Thanks for sharing this, OP. This one’s clearly a scam, and hopefully no one gets victimized, especially now that someone has already exposed it. Scams like this won’t last long once people start speaking up.

Reading this first, my first thought was that maybe Bitcoin Magazine X(Twitter) was hacked because this is  a common  style used by scammers to get to victims.

Although going through the post on X, I discovered they commented on this their post stating Trump Jr response, about his father not having connection with such wallet: https://x.com/BitcoinMagazine/status/1929966661207240992?t=M1Z1ScJG4wbxRpnqf4wWOA&s=19

I'm now curious where reputable account of such got theor information in the first place?

The fact that Trump Jr. made a disclaimer about the tweet is a strong confirmation that something fishy is going on. This disclaimer came quite early, so we are sure that no victims have been recorded yet. Anyone who was excited about the tweet from Bitcoin Magazine or had intentions of using the trading app should pause now and do some thorough verification. No one should ever doubt that it is possible for scammers to use Trump's identity to scam his faithful followers. Anything can happen in this crypto space, so everyone should beware of information like this, even if it is being posted on trusted crypto news platforms. Always verify information from different sources before acting on it.

I do not care to check through the link which was made available in most of the tweets, but it was talking about whitelists and signing up on the wallet website, and they said those who signup will be eligible to share something of $1 million in Trump, which even makes it more unbelievable and like a scam to me.

Suspected Scam link

My guess is they got the information from  Magic Eden's office's X page,  (https://x.com/magiceden/status/1929955044725583993?s=46) which was where the news was first published, and the account is still maintaining the stance that the news is legit, and what even makes the whole story a bit funny and at the same time confusing for some followers is that WLFI (worldlibertyfinancial) an organisation owned by the Trump family, has plans to launch a wallet called the $Trump wallet.

I don't care about it because I have been here long enough to know vital importance of choosing good wallets for using. One of criteria is choosing old wallet software that has been used and tested for years with good security reputation. Any new wallet software is not in my list of consideration to use until there is enough time and tests by community including technical experts.

For people who want to experience cool things, they must know which are official channels of Trump family's companies and such. They can not blindly rely on Bitcoinmagazine or any third party websites for it.

With cryptocurrency wallet softwares, I'd like to use this website that is my recommendation for others to use as well for wallet reviews.
https://walletscrutiny.com/

I think the best thing is just to ignore news of such about Trump and his team. The Trump coin or Melania token was disappointing in the end they are just like any other meme coin and so no one should be interested in investing in them. Trump his a businessman and so more concerned about his profit and so I don't expect him to do something so good to all, like what is he gaining?
We saw how he acted when he became the president, finding every means for manipulating the market for their own gain.

I don't think seriously about the news because I have my own wallet fits me. How can I believe if that come from Trump?

If someone related to the government release the wallet, he can ask about KYC. It is enough for us to use our usual wallet. If you are curious about the wallet, you can try it but make sure you use the other medias so you will not get any problems.

I am worry with those who lack the information because they don't know what they need to do and just follow what other people do.

Seems like this project is created the team behind the trump meme coin but we don't know yet if Trump is really involve in the project https://www.msn.com/en-us/news/politics/trump-backed-team-to-launch-branded-app-and-wallet/ar-AA1G1wEK

But maybe he know since for sure that he won't let those developers use his name if he didn't give them a clearance. I also wonder if there are people will use their crypto wallet and crypto app since they are known manipulator also I don't want to get stuck if there's something issues will happen on their services offered.

Let's see further news if Trump will do something with this project.

Maybe they got the information not well researched, they swallowed it raw and then shared it on X until it became a lot of big questions.

Now there is clarification so it is clear that Trump is not involved in the wallet that was reported on X.
You have to be careful because from this opportunity the fraudsters usually do even crazier actions.

People are getting crazy over it, there are promotional campaigns all around regarding the launch of this wallet, people are saying that you are going to get free tokens or coins if you download the wallet, and I have received a couple of invitations as well. I don't know why people don't understand such simple things, and why they don't do some research before spreading such things around and helping scammers like that. I mean, it's obvious, if someone launches something, why wouldn't they announce it themselves to give it more publicity?

Scammers are always looking for new ways to scam people in this industry, and they know this space is full of fools who are greedy as hell and they would do anything to get a few bucks for free, so they use this opportunity and lure them by offering them free coins or tokens, and then they ask them to invite others and they get more of it, so they get crazy and start inviting without a second thought.

This is why we always say that doing your own research is extremely important before taking any steps in this space.

I cant use the wallet even if it was verified to be from Trump or his Son, its high time we wise up and wake up, because we are taken too far in corporate scam and cant afford the way others got scammed from the Trump and Melina coin and allow same to happen on wallet.

Being a cryptopreneur, i know what type of wallet i should use and the ones i should avoid with reasons, so any form of a custodial wallet is not a take by me, i cant go less all because of fame and reputation of a political man, that cant help in case anything happens to my asset, not your keys not your coin, i still support non custodial wallet.

I dont trust to much with the news came from the X there's a lot of false advertisement as always right there so instead I do always make a double confirmation with the other sources, like the OP of that article they made a sub post about not being real trump wallet also why does they will create a wallet if his already have the power of a country with a small portion of people only into crypto so already skeptical in that matter.

There is no two ways about it, as long as one of the representative(Trumpjr) has come out to confirm that they don't have anything to do with the wallet, then it is an obvious scams. I think the scammers wants to take advantage of Trump's popularity in promoting whatever malware that is contained in that wallet. Since a large number of people chase after those with influence, it would have being easy to get a good number of people that would easily installed the app.

And as for Bitcoin Magazine, I'm not sure of how they managed to make such a mistake. I have always known them for providing good crypto news update, but this incident looks too expensive.

Probably. This isnt official, as an active on web3 I find some info and source that this publication isnt real and came from the real Donald Trump management. Obviously they will deny the connection with it. Anything connected with it is either a trap from scammers so dont think its gonna be am early good buy for users.

Man, this is a mess an official account promoting scam, they should do more to verify from their sources and maybe open up to why they thought earlier this wasn't a scam because false information of such were majorly shared through official accounts when they are hack and this was different, people will question the legitimacy of every news from them now especially around issues like this.

The situation is very confusing because Trump’s memecoin Twitter account reposted the announcement from Magic Eden and then made their own post promoting the wallet. Magic Eden probably paid a lot of money for this publicity stunt, but there was no coordination with the Trump family.

Legally, I don’t think they can use Trump’s name without permission and whoever is in charge of the memecoin doesn’t have the authority to do this. I suspect they will have to change the name to something like TrumpMeme Wallet to clarify that they are partnering with the memecoin and not Trump himself, or they will have to pay even more money to officially license the Trump brand name.

I don’t blame Bitcoin Magazine one bit about this, they are crypto news outlets only and the news for the new wallet was definitely coming from two good sources, the wallet was Powered by Magic Eden which is a reputable platform for NFTs and also has its own wallet, they celebrated the release with even rewards up to one million trump tokens. The trump token handle on X then also retweeted this so this might have been the reason why the news was published by Bitcoin Magazine. I think if there is anyone to sue or charge it will be Magic Eden.

Nonetheless my warning is to stay away from anything that has celebrities endorsement, this announcement doesn’t clean trump for me, he endorsed a meme coin so why scared about this what can be worse than been part of something that rugged your supporters

Even without the wallet, Trump has took his coin investors for a looooong ride.

This is not the first time the news portal has shared news without any verification. Back in 2023, Cointelegraph posted an article with the title Bitcoin ETF was approved which was fake news. Because of that, Bitcoin prices started to pump within a few minutes, and they opened a long position in a casino, I guess that was Rollbit. Later, they edited the article and said it was a mistake or something.

But before that, they closed their position and made millions of dollars. I have always believed that this was not a mistake but a planned market manipulation by Contelegraph. But Cointelegraph posted a brief article regarding this https://cointelegraph.com/news/ftx-engineering-director-faces-prison-guilty-plea

It's not fake... this puppet president continues promoting his $trump meme shitcoin, and now he is using this closed source app for trading this token, so it's not only a wallet.
I would stay away from anything Trump clown is promoting and I wouldn't pay a single sat or cent to him.
He made so many false promises that nobody should trust anything coming from him.

I'm thinking the same thing, but one thing I don't understand is that this kind of thing has happened before, but in that case, I've seen many influencers' social media accounts get hacked and then scams are promoted from there.
In this case, I haven't seen Bitcoin Magazine announce any apologies posts or say anything about their media being hacked, I'm actually wondering what the current status is of the users who have downloaded or used that apps in the time that has passed. And if any of them have been scammed, who will take responsibility?

If it was real and the information leaked while they didn't want it to, they can still deny that they don't have plans for such project, could that not be possible? It's very possible that they might want to create an exchange or become affiliated with some exchange or wallet but don't want anyone to be aware of it. Whether it's a scam or not, I trust myself that nothing would even lead me to use Trump exchange or wallet in the first place. This is time to be extremely careful with platforms we hold our Bitcoin, if it's in a centralized exchange, then it's not your coin because you don't have key to the wallet, that's because of not your key, not your coin.

This is absolutely true. Influencer and popular accounts are targeted by scammers. . Once one of these accounts is hacked, the scam can spread rapidly in a short amount of time. Therefore, we should not trust everything we read. Even if Bitcoin Magazine does not issue an official apology, part of the blame still falls on the users who trusted the information without verifying it.

If they had checked Trump and his family’s official accounts or recent news blogs, they would’ve found denials of these rumors and realized they were on the verge of falling into a scam. Rushing in this field can cost a lot of huge financial losses, and it’s very likely that victims won’t be compensated. . We've seen many previous scams where users received no compensation, and no blame was placed on the influencer who failed to protect their account from being hacked.

I have noticed this wallet service from Cointelegraph, but later another news about previous false news. However, Trump organisations will launch soon, and they are preparing everything. Means nothing official yet, and we have to be careful about scams. Unless any news comes out from Trump officials, we shouldn't trust anyone. Many scammers will try to take advantage of Trump's wallet. So this is alarming how reputable news portals are posting news without verifying the sources.

Keep in mind, scammers also would launch several Trump wallet projects or giveaways. Just don't be greedy and save your funds. For free money, you would lose everything, and your wallet would be drained by scammers. Always remember to verify the source when you notice something like this launching a wallet or exchange from Trump organisations.

This kinds of incident gives feel me like I shouldn't believe to my own hands. The incident that God Of Thunder mentioned above, that of Coin Telegraph, was also done in the previous time. So nowadays, one should actually verify their news twice and then believe it, actually it will be much better if we don't believe any of them but varify by our self.

Personally, I think that if such platforms are responsible for causing or causing such incidents, then there should be strict legal action taken against them, otherwise, they will exploit people's emotions in the future again and fill their pockets with millions of dollars.

Trump and his family plan to use their influence to rip off their followers. They are milking their followers in every way possible, as if it was not enough with their shitcoin, in which a lot of blind investors lost their hard-earned money in order for one man to increase the size of their account. Now they have come out with a wallet, which is also to be used to promote their shitcoin and attract more victims with renewed hope. The worst mistake anyone is going to make is trusting the word that comes out of a politician's mouth. Trump is not exempt.

Even if it's real I believe the wallet will be centralised, meaning you don't own your key, this was how I lost a lot of Doge coin in the past because I stored them using a centralised crypto wallet, I lost everything.

It was because of this incident I started learning about the differences between a centralised and a non-custodial crypto wallet, sometimes you have to make the mistakes to learn something better.

Crypto have been around for many years already and many non custodial wallets are been made, why would anyone that's just starting out will choose a brand new wallet with no past reputation among its users? Stop looking for shiny new things, go for the old ones.

If I am not wrong, Mr Trump and his family are now taking action against the company that announced creating a Trump crypto wallet without their permission. In fact, Trump and his family were working on something similar, and they are about to announce when their product will be ready. But someone else developed something, or maybe they are still working on it, yet they announced it.

We must verify any news from several sources before we take that into account. I know some TV news portals from India that are known for spreading fake news and propaganda. I am glad they probably don't know anything about crypto.

It is possible that there are misunderstandings here, or Bitcoin magazine failed to validate the information they gathered.  I think it there was really an initial plan about the  the wallet  but probably they just parted midway through the deal and Trump Jr. also announced another wallet called  World Liberty Financial wallet.

The early announcement without the permission of Mr. Trump may be the reason why the announcement was refuted.

Most altcoin projects did the same, Trump is not much worse than them. Overall, most altcoin leaders have supported the NFT and meme mania which were mostly about scams just because it gave them more transactions on the chain. Most people who criticize Trump from within crypto, probably hold one or multiple of such altcoins. They should criticize their own leaders first.

Even if there was a deal, if they broke it off then it should not be advertised as Trump's product. The initial news that broke was talking about another wallet, not the one that was clarified to be coming afterwards. Therefore, the initial news are fraudulent.

Even if they claim to be a decentralised wallet and a non-custodial wallet, they will definitely not make an open-source wallet, so there's no point in even thinking about using it.

What is the use for such a wallet, if I may ask, when there are good altcoin wallets and Bitcoin-only wallets which are out there? If not for them, they would still use that to mean and make more money; their $TRUMP coin is already available on existing wallets.

Most of those wallet providers that you mention are also doing it for profit, so why would they not try to compete and earn some of that money? You underestimate the amount of money that those wallets can generate from the swap fees and from gathering and selling data.