Five world leaders caught in crypto scandals
From billion-dollar crashes to hacked accounts, these politicians got more than they bargained for
From presidential memecoins to hacked social media accounts, politicians worldwide have been caught up in crypto chaos. Some eagerly launched their own tokens, promising financial innovation—only to see them crash spectacularly. Others found themselves at the center of scams, their identities hijacked to promote fraudulent projects.
Here are five world leaders who got swept up in crypto controversies, with billions gained, lost, or stolen in the process.
1. Donald Trump: From $TRUMP boom to billion-dollar bust
Photo: Wikimedia Commons / Gage Skidmore
US President Donald Trump kicked off the trend in January when he launched the $TRUMP memecoin just days before taking office. Promoted on his official X account, the token skyrocketed to $75.35, reaching a $14.5 billion market cap at its peak.
But the rally didn’t last. At the time of writing, $TRUMP has plummeted to $12.52, wiping out billions in value. According to Chainalysis, investors collectively lost $2 billion in just weeks—while Trump and his partners reportedly profited $100 million in trading fees.
His wife, Melania Trump, launched a similar token, $MELANIA, a day before his inauguration. While it didn’t reach the same heights, it followed the same pattern: an early surge, a dramatic crash, and investors left holding the bag.
2. Javier Milei: Argentina’s president backed a token—then it collapsed
On February 14, Argentina’s President Javier Milei promoted the $LIBRA token, claiming it would help small businesses and boost the economy. His endorsement sent the token soaring from near-zero to $5, briefly reaching a $4.5 billion market cap.
Then, disaster struck. Within hours, $LIBRA crashed below $1, wiping out $4 billion in value. Milei quickly deleted his post and denied involvement, but the damage was done.
The fallout was severe: over 100 fraud complaints were filed against him, and opposition figures called for his impeachment, accusing him of knowing about the project all along.
BREAKING: 🇦🇷Argentina’s President Javier Milei charged with fraud over $LIBRA token scandal: AP pic.twitter.com/wMSn77rytu
— Radar 𝘸 Archie🚨 (@RadarHits) February 16, 2025
3. Faustin-Archange Touadéra: A national crypto experiment gone wrong
Photo: Wikimedia Commons / The Kremlin, Moscow
Before Milei’s scandal, Central African Republic (CAR) President Faustin-Archange Touadéra attempted a different approach—launching an official national token, simply called CAR.
But within days, the project mysteriously disappeared. Its website went offline, its official X account was suspended, and skepticism spread like wildfire. Although Touadéra later set up a new account and website, confidence had already evaporated.
As a result, CAR’s market cap plunged from $600 million to nearly zero in just 48 hours.
Today, we are launching $CAR - an experiment designed to show how something as simple as a meme can unite people, support national development, and put the Central African Republic on the world stage in a unique way.
— Faustin-Archange Touadéra (@FA_Touadera) February 9, 2025
Contract: 7oBYdEhV4GkXC19ZfgAvXpJWp2Rn9pm1Bx2cVNxFpump
4. Edward David Burt: Scammers impersonated Bermuda’s leader
Photo: Wikimedia Commons / Foreign and Commonwealth Office
Unlike Trump, Milei, and Touadéra, Bermuda’s Premier Edward David Burt never intended to be involved in crypto—but scammers made sure he was.
Hackers created a fake X account impersonating Burt, using it to promote a fraudulent token called “Bermuda National Coin”. The fake account even displayed a gray verification checkmark, usually reserved for government officials, making it appear legitimate.
Burt quickly responded, slamming the fraud:
❝Not sure how they get a Grey Verification badge, but people will get scammed due to the lack of controls on this app. Please fix! ❞
Ultimately, the scam flopped, with only two traders (including the scammer) buying and selling the token.
At Valentines Dinner with my wife, and get multiple calls that someone is trying to scam users. This is a fake account and a scam. @elonmusk & @X not sure how they get a Grey Verification badge, but people will get scammed due to the lack of controls on this app. Please fix! - DB https://t.co/hdZ2NJ8ZWC
— Premier David Burt (@BermudaPremier) February 15, 2025
5. Mohammed bin Salman: Saudi Prince targeted in high-profile hack
Photo: Reuters
On February 17, hackers targeted Saudi Crown Prince Mohammed bin Salman, using a hacked X account from the Saudi Law Conference to promote a fake token called KSA.
The scam didn’t last long. The conference later confirmed the breach, warning:
❝We urge everyone to exercise caution and refrain from engaging with any suspicious content posted through the account until further notice. ❞
Despite the elaborate hoax, the KSA token failed to gain traction, and at the time of writing, its market cap sits at just $3,940.
As crypto markets grow, world leaders—willingly or not—are finding themselves entangled in digital asset scandals. Some have profited handsomely, while others have faced legal trouble, public backlash, or even impeachment threats.
With new tokens and scams appearing daily, the question remains: who’s next?
