In May 2023, a man named Jonathan Lopez put a lot of money—about $1 million—in a small U.S.-based crypto company called Dough Finance. Jonathan, who lives in Miami and works as a motivational speaker, believed this was a good chance to grow his money quickly. The platform promised to make tricky crypto deals very simple. It let people borrow money using their own crypto and then use that borrowed amount to buy even more. This was called “looping,” and it helped users take big risks in the hope of earning big rewards.

At first, things seemed to go well for Jonathan. He trusted the company, and one of the founders, Chase Herro, even personally showed him how to use the system. Jonathan had to pay a 5% fee for using the platform. But he was excited. Chase encouraged him and wrote messages like, “We get reward(s) for the risks we take” and “Lfg,” which means “let’s fucking go.”

But everything changed on July 12, 2024. On that day, hackers stole all of Jonathan’s money. In total, they took about $2.5 million from Dough Finance. The company posted an update online saying they were sorry. They admitted there was a weakness in their computer code, and that’s how the hackers got in. “We acknowledge our mistake and are deeply sorry,” Dough said in a public report on July 23. They also said they were trying to improve their safety systems and promised to do better.

While Jonathan and other investors were dealing with the loss, something strange happened. Just two months after the hack, the same two men who created Dough Finance—Chase Herro and Zak Folkman—started a new crypto business. This time, it was called World Liberty Financial. But what surprised many people the most was their new team: U.S. President Donald Trump and his three sons, Don Jr., Eric, and Barron.

Herro and Folkman were introduced to the Trump family by Steve Witkoff, who is Trump’s envoy in the Middle East. Witkoff said that the Trumps were very excited about Herro and Folkman’s ideas about crypto. Soon, the new company had fancy titles for everyone. Donald Trump was called “Chief Crypto Advocate,” while his sons were named “Web3 Ambassadors.”

Jonathan Lopez was shocked and angry. He believed he was tricked, so he decided to take legal action. In January 2025, he filed a lawsuit against Chase Herro. He said Herro lied to him and broke important promises. He also said Herro didn’t follow the rules that protect investors. Jonathan asked the court to punish Herro, give him back his money, and cover the cost of his legal team. His lawyer, Joseph Pardo, said that Jonathan invested so much money because he truly believed in what Herro told him.

In response, Herro’s lawyers argued that Jonathan was an experienced investor who understood the risks. They said the hack wasn’t Herro’s fault and asked the judge to dismiss the case or send it to arbitration. A judge in Miami has now set a court trial for April 2026.

Meanwhile, Eric Trump responded to questions by saying in an email: “We are proud of the entire team. They have overachieved our wildest goals and our current trajectory is nothing short of incredible.”

A closer look at emails, messages, and interviews with ten former Dough customers shows that Herro and Folkman walked away from Dough and left their users behind—right when they were getting involved with World Liberty. Even though Dough collapsed, the two crypto businessmen found major success with their new company and their connection to the Trump family.

Before they started Dough, Herro and Folkman were already working together on online sales and crypto businesses. Herro once even told investors that he was “the dirtbag of the internet.” He added, “I do what’s legal… besides that I don’t give a fuck.” Folkman also had a business in the past called “Date Hotter Girls,” which gave advice to men on how to impress women.

After Dough failed, World Liberty took off. It earned huge amounts of money—more than $550 million from selling tokens. From this, the Trump family made around $400 million. Herro and Folkman also earned a lot—at least $65 million—based on the share they revealed publicly.

When reporters asked for comments, Herro and Folkman didn’t reply. Their lawyers and a spokesperson for World Liberty also stayed silent. Don Jr. and Barron Trump didn’t respond either. The White House redirected all questions to the Trump Organization.

Now many people are wondering—was it right for Herro and Folkman to walk away from Dough without helping the people who lost money? Should they be allowed to start fresh with a new business while others are still suffering from their old one?

Jonathan Lopez, like many others, feels left behind. He trusted the founders and their big promises. But in the end, he lost everything. While the Trump family and their new partners celebrate their success in the crypto world, the people who first believed in Herro and Folkman are still waiting for justice.

What happens next in court could decide if people like Jonathan will ever get their money back—or if crypto leaders can just move on to the next big thing without facing consequences.