50 Cent's X Account Hacked to Promote Celebrity Memecoin Scam

Rapper 50 Cent Claims Hackers Used His X Account for a Multimillion-Dollar Memecoin Rug Pull
50 Cent's X Account Hacked to Promote Celebrity Memecoin Scam

Renowned rapper Curtis James Jackson III, better known as 50 Cent, recently revealed that his X (formerly Twitter) account was hacked to promote a fraudulent memecoin scheme. On June 21, 50 Cent informed his 32.8 million Instagram followers that hackers had taken control of his X account and website, using them to push a newly created token named "GUNIT."

This rug pull scheme involved artificially inflating the token's price by leveraging 50 Cent's large following of approximately 12.9 million on X. Once the token's value was sufficiently pumped, the hackers quickly sold off their holdings, causing the price to plummet to $0.00016. In a post, 50 Cent claimed that the hackers made $300 million within 30 minutes, although the actual trading volume at the time of publication was $19.4 million.

50 Cent assured his followers that he had no association with the scam and that X worked swiftly to secure his account. This incident highlights the growing issue of celebrities' social media accounts being used to promote fraudulent cryptocurrency schemes.

Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.

Crypto Insider News Inc