On January 27, 2025, a cryptocurrency token operating on the Solana network was promoted through Visa’s official Facebook page. Concurrently, another meme coin based on Solana, known as FAFO Barron, experienced a remarkable surge of over 250% within just a few hours following a post by President Donald Trump featuring an image.
Visa’s Facebook account was breached in a cryptocurrency scam.
On January 27, hackers infiltrated Visa’s official Facebook page during a cyberattack and utilized it to advertise a dubious Solana-based token trading under the symbol $VISA. The token’s price experienced a rapid increase before plummeting, characteristic of a rug-pull scam.
A rug-pull is a fraudulent scheme in which the creators of a cryptocurrency token abruptly liquidate their assets, leading to a significant decline in the token’s value. This phenomenon highlights a growing trend of corporate social media accounts being hijacked to endorse deceptive cryptocurrency initiatives.

Trump advocates for an increase in the price of FAFO BARRON.
On January 27, President Donald Trump shared an image of himself alongside a FAFO meme coin on his social media platform, Truth Social. This action resulted in a 250% increase in the price of the Solana-based meme coin within a span of four hours.
The meme coin was developed on Pump.fun, a platform dedicated to launching meme coins on the Solana network, and it was named in honor of Barron, the youngest son of the President. According to CoinMarketCap, the token experienced a significant increase in its market capitalization, surpassing $148,000 within a few hours.

The recent promotion of the President has sparked interest in FAFO; however, the price of the meme coin has begun to fall significantly, currently trading at $0.00004161. This represents a steep decline of 28% within a single hour. This downturn follows the launch of another cryptocurrency called ‘Barron’ on Solana on January 20, coinciding with President Trump’s inauguration as the 47th President of the United States. Unfortunately, the Barron token quickly experienced a $1 million rug pull.
Solana: a leading target for rug pull scams
Solana has been recognized as one of the leading platforms for AI agents; however, it also hosts Pump.fun, a service that enables users to create meme coins, frequently resulting in instances of rug pulls.
Pump.fun has come under scrutiny for being misused by malicious individuals to introduce fraudulent tokens, resulting in financial losses for investors. This situation is not unique. Data suggests that merely 0.4% of Pump.fun’s 14 million users have achieved profits exceeding $10,000, while the vast majority have incurred losses. On January 15, Burwick Law declared its intention to pursue legal action against Pump.fun, alleging that the platform has taken advantage of investors through what its founder, Max Burwick, characterizes as a “development of multi-level marketing scams.”