Scammers Target Trump Supporters

Less than two months after President Donald Trump returned to office, scammers have begun targeting supporters who contributed to the American president’s campaign. Many of these fraudulent schemes target supporters who bought memorabilia to support the Republican candidate’s presidential bid.

When Donald Trump announced his run for president again, it seemed a longshot following his loss in 2020. However, public interest surged last year as he sought to rally support and funds with increasing urgency as elections neared.

The Trump campaign produced extensive memorabilia to generate funds, leading to a significant influx of donations from supporters who purchased items like MAGA caps and commemorative coins featuring Trump’s likeness.

This strategy proved effective, but many buyers are now victims of scams. Con artists promised that their memorabilia purchases were investments that would increase in value once Trump took office.

More than a month after Trump’s inauguration, victims are discovering these promises are fraudulent.

How the Scams Work

Jake Moore, a global cybersecurity advisor at ESET, explains that these scams exploit psychological triggers. For instance, an Alabama woman browsing Trump supporter groups on Telegram learned about a scheme that promised considerable returns for owning memorabilia.

After purchasing several items, she was told she could receive a $13 million rebate by simply paying transaction fees amounting to over $152,000 in cryptocurrency. The scammer diverted the funds into their wallets, and she never obtained the promised rebate. This “Trump Rebate Banking (TRB)” scheme preyed on emotionally invested fans, leading victims to lose thousands of dollars.

Fortunately, the FBI helped the Alabama scam victim recover her funds, which had been frozen on Binance.

Continued Scams Targeting Trump Fans

Despite growing awareness about these scams, many are still active on major online platforms, including Telegram and X (formerly Twitter). Forbes identified numerous accounts promising assistance with Trump-related items or helping recover losses.

Victims are increasingly vocal about their experiences, with one user describing a $40,000 investment in Trump goods that turned out to be a scam.

While Telegram strives to remove harmful content, the scammers continue to exploit Trump’s name and brand loyalty to target his supporters. Jake Moore emphasizes the importance of caution and due diligence when engaging with suspicious accounts.

The only gesture from the Trump team to acknowledge memorabilia purchases was an airdrop of $TRUMP tokens, shared equally among buyers regardless of their total spending.