Trump campaign targeted by phishing scams after raising $25m at Bitcoin Conference

Donald Trump’s appearance at the Bitcoin Conference 2024 in Nashville was a headline of the event, which ended with $25 million in campaign donations. Bitcoin Magazine CEO David Bailey disclosed this on X, saying that the contributions come from industry stakeholders and crypto whales.

The amount is the second highest raised by Trump in a fundraiser across his three presidential campaigns and exceeded Bailey’s initial $15 million target. However, Trump’s pro-crypto support is attracting phishing scams.

Trump raised $25 million at his Bitcoin Conference fundraiser

According to reports, most of the $25 million came from those who attended Trump’s private fundraiser after his conference speech. The fundraiser, held at the Nashville Music City Center, had about 100 people in attendance. Eleanor Terrett, Fox Business journalist, confirmed that attendees at the event included the Winklevoss twins and celebrities such as Jake Paul, Kid Rock, and Billy Ray Cyrus.

Bailey also took a swipe at the Democrats, claiming that the party is committing political suicide through its anti-crypto efforts. He said : “For those of you who didn’t hear it in Trump’s speech, DJT raised $25m in Nashville… Warren and her goons talked Dems into committing mass seppuku.”

However, there are mixed opinions on whether he can fulfill all his promises. Critics believe his support for the industry after antagonizing it when he was president is only a strategy to win more votes and get donations.

The crypto industry has spent heavily in this election. Fairshake, the pro-crypto super political action committee (PAC) just became the largest super PAC, raising over $200 million. It plans to spend the funds on electing crypto-friendly candidates and voting out anti-crypto legislators.

Phishing scammers target Trump’s supporters

Meanwhile, Trump’s support for the crypto industry and his decision to accept cryptocurrency campaign donations have made him an attractive subject for scammers. Researchers at cybersecurity firm Veriti recently released a report highlighting the multiple phishing scams using Trump’s name.

These scammers have created fake websites resembling Trump’s genuine crypto donation pages. So far, three fake donation websites have been identified, and they all appear to be from one source as they use the same set of crypto addresses. The researchers noted:

“One notable aspect of this campaign is its use of a specific set of cryptocurrency wallets, which is uncommon in typical phishing scams. The attackers appear to be capitalizing on the novelty and perceived security of cryptocurrencies, enticing users with the promise of a secure, anonymous donation method.”

However, the research noted that the phishing campaigns have not been successful, with the scammers seeing minimal proceeds. The Bitcoin wallet has not received any funds, while the ETH wallet has only a few hundred dollars.

Despite the limited success of the phishing scams, the risk remains high, particularly as the presidential campaign continues to heat up. Trump has already reaffirmed his support for the crypto industry at the Bitcoin Conference by promising to make Bitcoin a national reserve asset in the US.