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Two men are accused of fraud and market manipulation in a $MELANIA crypto scheme using fake celebrity ties.
Two men, Benjamin Chow and Hayden Davis, were accused in a federal lawsuit of orchestrating a fraud involving the $MELANIA cryptocurrency launched in January, allegedly using celebrity ties to mislead investors.
The complaint claims they created a fake sense of legitimacy through coordinated marketing and insider dumping, causing the coin’s value to collapse after a 12-fold surge.
The lawsuit alleges the defendants used a repeatable scheme across multiple tokens, hoarded a large portion of the supply, and exploited public figures’ names without their knowledge.
The case centers on fraud, market manipulation, and racketeering, but does not accuse Melania Trump or others of involvement.
Dos hombres están acusados de fraude y manipulación del mercado en un esquema criptográfico de $MELANIA usando vínculos de celebridades falsos.