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- Hackers used 50 Cent’s X account to advertise a Solana-based pretend memecoin.
- 50 Cent dissociated himself from GUNIT by way of an Instagram announcement.
- GUNIT surged 8,000% inside minutes earlier than plunging.
Hackers seized management of fifty Cent’s X account final Friday and used it to advertise a pump-and-dump scheme involving the Solana-based memecoin GUNIT. A collection of promotional posts for the fraudulent coin flooded 50 Cent’s X account in a brief interval.
The posts on the hacked account had been elaborate, referencing manufacturers related to the rapper, together with his cognac model, and alluding to current celebrity-related memecoin narratives just like the Donald Trump Token (DJT) launched by Martin Shkreli.
The rap icon rapidly distanced himself from the GUNIT memecoin by way of an announcement on his official Instagram account. He acknowledged:
“My Twitter and Thisis50.com had been hacked. I’ve no affiliation with this crypto.”
In his assertion, 50 Cent famous that X (previously Twitter) acted swiftly to lock his account. Nonetheless, he claimed that the perpetrators made $300 million within the half-hour the scheme was energetic.
On the time of writing, 50 Cent’s $300 million declare couldn’t be confirmed. Nonetheless, a number of information sources revealed that the rip-off coin generated $18.6 million in buying and selling quantity inside 40 minutes, with its worth surging by roughly 8,000% earlier than plunging as liquidity dried up.
Analysts imagine the hackers capitalized on the continued memecoin frenzy within the crypto business. 50 Cent is considered one of a number of celebrities to fall sufferer to hacking and impersonation in current weeks. Earlier this month, hackers hijacked former WWE champion Hulk Hogan’s X account to advertise HULK, a rip-off coin that attracted $82 million in buying and selling quantity in a single day.
Information from DEXScreener reveals that GUNIT’s market cap was $157,000 on the time of writing, with the token buying and selling for $0.0001585.
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