Fake?? Donald Trump launching Crypto wallet and trading app!)

[UserU]

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

[God Of Thunder]

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.

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

[dkbit98]

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.

[|MINER|]

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.

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?

[Mrbluntzy]

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.

[albon]

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?

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.

[The Cryptovator]

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.

[|MINER|]

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.

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.

[Nwada001]

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.

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.

[KiaKia]

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.

[God Of Thunder]

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.

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.

[serjent05]

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.

Instead, Trump Jr. teased a potential World Liberty Financial wallet, also coming “soon.”

[bullbandit9]

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

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.

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.

Instead, Trump Jr. teased a potential World Liberty Financial wallet, also coming “soon.”

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.

[Orpichukwu]

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.

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.

[bullbandit9]

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.

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.