Trump Digital Gold Token Crashes 99% After a Suspected Rug Pull

The Solana based Trump Digital Gold (GOLD) token crashed more than 99%, with traders accusing the project of a rug pull after a compromised X account that appeared connected to the Trump Organization’s merchandise business was used to promote the launch.

The GOLD token quickly reached a market cap of nearly $60 million before collapsing to about $600,000 in just a few minutes.

Fake Trump Token Sparks $60M Buying Frenzy

The trouble began on 29 August, 2026, when the realtrumpcoins1 X account posted about the launch of GOLD and claimed that the Trump Foundation backed the token. This claim was not confirmed as an official Trump family endorsement.

The account appeared connected to the Trump Organization’s merchandise business and was followed by Donald Trump’s main X account, which may have added to the token’s appearance of legitimacy.

Traders quickly rushed into the token, sending its market value from almost nothing to nearly $60 million within two hours. 

But the rally did not last long. 

Soon after reaching its peak, the promotional post was later deleted, and the GOLD token then began to drop.

GOLD Loses 99% in a Few Minutes

After reaching its peak, GOLD’s market value plunged from around $60 million to roughly $600,000 in a few minutes.