Ivanka Trump Warns of Crypto Scam Using Her Name

Ivanka Trump, the daughter of President Donald Trump, posted a statement to social media platform X on Thursday advising users that she has no involvement in a crypto coin using her name.

Ivanka Trump is warning her social media followers to not fall for a crypto scam using her name.

Trump, the daughter of President Donald Trump, posted a statement to social media platform X on Thursday advising users that she has no involvement in a crypto coin using her name. She said that her legal team is looking into the issue.

“It has come to my attention that a fake crypto coin called ‘Ivanka Trump’ or ‘$IVANKA’ is being promoted without my consent or approval. To be clear: I have no involvement with this coin,” she wrote on X.

“This fake coin risks deceiving consumers and defrauding them of their hard-earned money, and the unauthorized use of my name and likeness is a violation of my rights. This promotion is deceptive, exploitative, and unacceptable,” she added.

Her statement about the fake crypto coins comes days after her father and Melania Trump promoted their own crypto meme coins ahead of Inauguration Day.

Ron Filipkowski, editor-in-chief of MeidasTouch, wrote that it could be “difficult” to tell what Trump crypto coin is a scam and what is not.

"The problem is, the Trump family has so many crypto scams going on that it’s difficult to tell which are affiliated with them or some other scammer. Most likely you will lose your money either way,” he wrote on X.

In promoting the meme coin, Trump told supporters to “Have Fun!” .The website selling the tokens says they are meant as expressions of support and not an investment opportunity.

That hasn’t stopped people from trying to make money. The Trump meme coins started out at $10 each before soaring to as high as about $70 as of Sunday morning. It fell sharply later Sunday after Trump and his wife, Melania Trump, posted about a meme coin for her. The Melania coin was trading for around $5 Sunday afternoon.

Meme coins are a strange and highly volatile corner of the crypto industry that often start as a joke with no real value but can surge in price if enough people are willing to buy them. Dogecoin, the cryptocurrency whose mascot is a super-cute dog that muses things like “much wow,” is perhaps the most well known. Meme coins can be used by scammers looking to make a quick fortune at the expense of unwary investors.

The Associated Press contributed to this report.