Democratic Congressman Waters criticizes Trump's cryptocurrency project at hearing

BlockBeats News: On September 11th, Democratic Congressman Waters (California) emphasized the higher risks faced by consumers in the DeFi field during a hearing on Capitol Hill, using World Liberty Financial, a cryptocurrency lending platform promoted by Trump and his sons, as an example. Last week, the Twitter accounts of Trump's daughter Tiffany Trump and Republican National Committee Chairman Lara Trump (Trump's daughter-in-law) were hacked. Under the control of hackers, these accounts promoted false tokens issued by World Liberty Financial in an attempt to deceive potential buyers. Due to the popularity of the individuals behind the project, criminals took advantage of this opportunity to deceive potential users, "Waters said. Legislators have a responsibility to consider developing strong protective measures to prevent such fraud from occurring According to Eric Trump, the son of Trump, Twitter blocked hacked social media accounts within "a few minutes". But Waters pointed out that many people are still suffering actual harm as a result, purchasing fake tokens worth about $1.8 million, which are actually unrelated to the project.