Hackers took over Zach Witkoff’s social media to promote a fake BARRON meme coin before moderators quickly deleted the post. Despite being exposed as a scam, the token’s price has remained stable, showing the crypto market’s ongoing risk from fraudulent schemes. Political meme coin scams are spreading fast, with scammers taking advantage of inexperienced investors and well-known figures to push their projects. Hackers hijacked Witkoff’s X account to advertise a fraudulent coin linked to Barron Trump. The post was removed swiftly, yet BARRON’s price didn’t drop . The rise of political meme coins has led to an increase in scams across the crypto world. Since Donald Trump introduced his TRUMP token, the sector has taken a troubling turn. In just his first week as president, scammers reportedly stole $857 million using the TRUMP token. Today, the same pattern emerged when Witkoff’s account was hacked to promote the fake BARRON meme coin. “Account was hacked. Thanks to X and James Musk [Elon’s cousin] for acting fast. You guys are great!” Witkoff later posted. Of course, the meme coin had no connection to Barron Trump. Similarly, Trump’s daughter had to distance herself from an IVANKA meme coin , yet that scam still made a profit. Even after Witkoff’s warning and the post's removal, the BARRON token’s price held steady, showing that fraudulent meme coins continue to attract traders. Political-themed scams are becoming more aggressive, and even high-profile figures like Vitalik Buterin feel powerless to stop them. The crypto community is seeing an alarming rise in fake meme coins linked to politicians, fueled by speculation and new investors willing to take risks. BARRON’s price remains strong despite being fake. The trend of fraudulent meme coins isn’t slowing down. In January, scammers falsely linked an XRP wallet to the US Treasury, though it’s unclear how much money they gained. More recently, the X accounts of two former world leaders—a Brazilian President and a Malaysian Prime Minister —were hacked to promote fake tokens, generating over $1 million. With meme coin speculation becoming more like gambling, the crypto space should prepare for even more scams like BARRON. A survey showed that 40% of TRUMP investors were completely new to crypto, and scammers are taking full advantage of this wave of inexperienced traders. Even though many traders know these tokens are fake, they still gamble on them, hoping for quick profits. This growing trend is starting to damage the credibility of the industry.
