Reports have surfaced revealing that users of Donald Trump's social media platform, Truth Social, are being targeted by scammers, resulting in significant financial losses. Documents obtained by Gizmodo and reports to the Federal Trade Commission indicate that some users have lost hundreds of thousands of dollars in a short period of time due to fraud schemes involving cryptocurrency. Many of the victims are older Americans lured into investing in non-existent cryptocurrencies. In April 2024, an elderly victim was scammed by fraudsters targeting Coinbase users, with over $5 million in cryptocurrency stolen through an alleged social engineering scheme, according to blockchain investigator ZachXBT. He assisted in recovering $275,000 for a Coinbase customer and revealed a larger scam involving phishing attacks to gain access to user accounts. Regulators are warning that crypto relationship scams pose "catastrophic harm," highlighting the urgent need for increased awareness and protections against such fraudulent activities.