Truth Social Users Fall Victim to Scams, Losing Significant Sums

Reports reveal widespread fraudulent schemes on Donald Trump's social media platform, targeting elderly users with investment and romance scams.

Numerous Truth Social users, primarily older individuals, have been scammed out of thousands to hundreds of thousands of dollars.
The scams often involve 'pig butchering,' where victims are tricked into investing more money by showing fake profits.
Many victims were initially contacted on Truth Social before being lured to other platforms like WhatsApp for further manipulation.
Truth Social's parent company claims to actively search for and ban scams, but the platform remains a lucrative target for fraudsters.
The company is facing financial struggles and leadership changes, with recent resignations linked to mismanagement allegations.