In an unforeseen turn of events, a fresh cryptocurrency venture linked to former President Donald Trump has fallen victim to hackers.
This incident has resulted in a multitude of individuals falling prey to a hoax that guarantees cryptocurrency rewards which are simply false.
Alert: Beware of the ‘World Liberty Financial’ Scam
Since its recent introduction, the World Liberty Financial platform, endorsed by Trump, has drawn in more than 230,000 followers on its official Telegram channel.
Despite its bold objective to challenge the dominance of established financial institutions, comprehensive details regarding the initiative remain scarce.
With the increasing buzz surrounding WLF, cybercriminals have taken advantage of the platform’s popularity to carry out illicit activities.
They have managed to infiltrate the official channel with misleading adverts for their fraudulent initiatives, attracting over 70,000 unsuspecting users.
Commenting on this issue, Steven Zheng, a researcher for The Block, expressed on X (formerly Twitter),
“They’re promoting crypto phishing scams within Trump’s World Liberty channel.”
According to reports, the ‘World Liberty Financial Airdrop’ channel is deceiving users with fabricated offers of up to $15,000 in digital currency for connecting their wallets.
This fraudulent scheme could jeopardize users’ assets, although the precise number of affected individuals remains uncertain. Furthermore, it might result in the loss of private keys, rendering wallets inaccessible and leading to irreversible asset loss.
An Advisory Was Issued, Yet…
For those unfamiliar, in a recent X update, Donald Trump disclosed his ambition to position the U.S. as a leading global player in cryptocurrency to his 90 million followers.
In his statement, he emphasized the WLF project, a DeFi initiative endorsed by his sons and actively promoted by them.
Interestingly, shortly before this, WLF had issued a cautionary message on Telegram, warning users about potential scams and advising them to exercise caution.
“We have become aware of certain ads circulating on Telegram posing as us, offering fake airdrops or token sales. We are not conducting any airdrops or token sales presently.”
Encouraging vigilance,
“Please refrain from clicking on any ads or links purporting to be linked with World Liberty Financial. We are not conducting any airdrops or token sales at this time.”
Despite the caution issued by WLF on Telegram, an evident advertisement for a deceitful ‘World Liberty Financial Airdrop’ has been visible for four days, despite the presence of the warning.
The advertisement, promoting fake cryptocurrency giveaways, has lingered on the channel without being attended to or removed.