Melania Trump’s memecoin was just one of 15 fraudulent tokens launched as part of an elaborate scheme to trick crypto investors. That’s according to a new court filing in a putative class action lawsuit, which accuses the defendants of obtaining the first lady’s endorsement of her cryptocurrency as part of a scheme that “weaponized fame to disarm diligence.”
The legal filing, submitted on Tuesday, is the newest update in a case that dates back to May, when the firm Burwick Law filed a complaint on behalf of investors against a host of entities that sold memecoins, or cryptocurrencies that have no inherent utility and whose value is tied to the popularity of a joke or person.
