Ivanka Trump is taking action after uncovering a scam involving a cryptocurrency named after her, which was being used without her permission.

She alerted followers of the unauthorized use of her name in a digital coin called "Ivanka Trump" or
"$IVANKA" and stated she plans to pursue legal recourse, as the Daily Mail reports.

The revelation came as Trump, age 43, addressed her followers through Instagram Stories. She made it clear that she had no involvement with this cryptocurrency.

The coin was being marketed as if it had Trump’s endorsement, which could mislead potential investors and the general public.

Misleading Cryptocurrency Schemes Draw Concern

The fake cryptocurrency incident comes on the heels of high-profile launches by other members of the Trump family. Donald Trump, 78, and Melania Trump, 54, have both introduced their own digital tokens. These have sparked considerable media and public scrutiny.

Donald Trump promoted a meme-themed token called "$TRUMP" through his platform, Truth Social. He described it as a celebration of his movement and encouraged supporters to join the "special Trump community."

Protection of Trademarked Names and Images

Ivanka Trump expressed her discontent over the unauthorized use of her name. She remarked that such actions are deceptive and could lead to fraud. Her statements emphasized the exploitative nature of this scheme which risks defrauding innocent consumers.

The timing of this incident is particularly notable, given the recent cryptocurrency activities by her family members. Melania Trump released her token, "$MELANIA," on the Solana blockchain, adding to the political couple’s ventures into digital currencies.

Donald and Melania's Cryptocurrency Launch

The tokens launched by Donald and Melania have been associated with significant market values. Donald Trump's meme coin "$TRUMP" is valued at $35.96 and has garnered a market capitalization of $7.1 billion.

Similarly, Melania Trump’s token has been valued at $2.72 with a market cap of approximately $466 million. However, only 15 percent of her tokens are available for public sale, which adds an air of exclusivity to her digital currency.

Cautious Approach to Trump Family's Crypto Activities

Both Donald and Melania's tokens come with disclaimers. They stress these are not intended as investment opportunities. This is likely a strategic move to preclude any regulatory complications with the Securities and Exchange Commission.

Donald Trump’s past endeavors with non-fungible tokens (NFTs) also highlight his interest in digital assets. He has previously sold NFTs that feature him in various heroic depictions, marketed as digital trading cards.

Addressing Unauthorized Use

Ivanka Trump's call to action reflects her commitment to protecting her name and reputation. By taking legal steps, she aims to mitigate any potential consumer confusion.

She underscored the deceptive nature of this fake coin, reiterating the risks posed to unsuspecting individuals who might invest based on misleading endorsements.

Expansion of Political Figures in Cryptocurrency

This incident sheds light on the growing trend of political figures engaging in cryptocurrency ventures. However, it also highlights the challenges they face in protecting their likenesses and preventing misuse in an unregulated space.

As the Trump family continues to explore the potential of digital currencies, it is clear that safeguarding their brand remains a priority, as does maintaining transparency with the public.

The legal and ethical aspects of using high-profile names in cryptocurrency marketing are coming to the forefront.

Ivanka Trump’s proactive approach serves as a reminder of the complexities that can arise in this evolving digital frontier.