Blockchain investigator ZachXBT has alleged that suspected insiders reaped $3.8 million in profits through a pump-and-dump scheme involving the newly launched RTR token. According to ZachXBT’s social media posts, four blockchain addresses were identified as having benefitted from the scheme, with two addresses starting with 9G1ELG and GHoW2 evidently belonging to the same individual. These addresses received a combined total of 500 SOL in new funds within minutes of the token’s public launch.
The RTR token was introduced on the evening of August 8, coinciding with significant speculation within the community that it was associated with a new project related to the Trump family. On August 9 at midnight, RTR reached a peak value of $0.156.
However, the token’s value plummeted dramatically after Eric Trump, the second son of former President Donald Trump and executive vice president of the Trump Organization, warned the public via social media. In his statement, Eric Trump advised caution against counterfeit tokens and clarified that no official Trump-related project had been announced yet. He assured that any official news would be communicated through Twitter.
Following Trump’s warning, RTR’s value rapidly fell by approximately 95%. Despite its brief surge, the token’s trading volume was notably high, reaching $164 million within just 15 hours of its launch.
