Ivanka Trump Warns Of Fake Crypto Coin Bearing Her Name: 'Deceptive, Exploitive, And Unacceptable'

Ivanka Trump, the daughter of President Donald Trump, issued a warning on her X account that a crypto coin bearing her name is bogus and could lead to investors being swindled.

"It has come to my attention that a fake crypto coin called 'Ivanka Trump' or '$IVANKA' is being promoted without my consent or approval. To be clear: I have no involvement with this coin," she said in a posting Thursday.

She cautioned investors looking to make a buck on her name to be careful about being bamboozled.

"This fake coin risks deceiving consumers and defrauding them of their hard-earned money, and the unauthorized use of my name and likeness is a violation of my rights," Ivanka Trump said.

"This promotion is deceptive, exploitative, and unacceptable," she continued, adding that her lawyers are pursuing legal avenues to stop the use of her name.

Her warning comes after her father and first lady Melania Trump launched meme coins - $TRUMP and $MELANIA - over the weekend that raised ethical concerns and added to the president's bottom line.

The market cap of Trump's coin hit $7 billion on Thursday, a significant drop from the $15 billion it reached on Sunday, the Wall Street Journal reported.

The $MELANIA market cap was around $460 million.