Analysis: GOLD Scam Team Profited $1.01 Million, Dumping 82.45% of the Tokens

BlockBeats News, August 29, according to EmberCN, the Trump Digital Gold (GOLD) scam team has sold all of its holdings of GOLD tokens at around 2 p.m. today, totaling approximately 824.54 million tokens, accounting for 82.454% of the total token supply, with a total profit of about 9784.6 SOL tokens (approximately $1.01 million).

It is reported that GOLD was created on Solana today at 7:38 a.m. The relevant address controlled over 82% of the tokens through token distribution and purchases after the launch. Around 9 a.m., the official Trump merchandise account @realtrumpcoins1 tweeted the GOLD contract address, causing the token's market value to spike to $66 million.

Around 11:48 a.m., the tweet was deleted, and the associated address immediately started massive sell-offs. The GOLD market value plummeted from $55 million to $1 million in about 30 seconds, and then the scam executors continued to dump their holdings until all tokens were sold. Currently, the GOLD market value has dropped to around $700,000, a 99% drop from its peak.