Replace: 1:00 p.m. ET (June 25, 2024) – 50 Cent claimed cryptocurrency hacker profited $3 million in thirty minutes, not $300 million, as beforehand reported.
50 Cent’s social media accounts and web site had been hacked by a crypto scammer this previous week, with the wrongdoer reportedly making $3 million in earnings on account of the “pump-and-dump” scheme.
On Friday (June 21), a submit believed to have been written by Fif selling a cryptocurrency token dubbed “$GUNIT” appeared on his X account, which merely learn “$GUNIT for winners solely…” In response, a variety of customers bought the coin, inflicting the worth of the token to rise exponentially inside an hour of the submit.
The next day, the rapper and leisure mogul took to Instagram to announce that his X account and ThisIs50 web site had been each compromised and that he was not answerable for the submit selling the “$GUNIT” token.
“My Twitter & Thisis 50.com was hacked,” the 48-year-old wrote in an Instagram submit on Saturday (June 22). “I’ve no affiliation with this Crypto. Twitter labored rapidly to lock my account again down. Who ever did this made $3,000,000 in half-hour.”
Additionally known as a “rug pull,” the crypto scheme involving the fraudulent “$GUNIT” coin is par for the course within the blockchain group, as a number of celebrities’ social media accounts and web sites have been hacked to advertise a brand new token, solely to money out as soon as the hype across the coin has peaked earlier than steeply declining in worth.
The “$GUNIT” token had a complete buying and selling worth of $19.4 million as of Saturday (June 22), when the fraud was uncovered. Nevertheless, a variety of scammers made upwards of $100,000 from gross sales of the memecoin, with Dex Screener reporting that one coin holder offered $721,000 price of the “$GUNIT” token alone.
This isn’t the primary time 50 Cent has been related to cryptocurrency, as he as soon as claimed to have earned 700 bitcoins from gross sales of his 2014 studio album, Animal Ambiton. But, the rapper would later file for Chapter 11 chapter in 2015, claiming he by no means “owned both a bitcoin account or any bitcoin” in the course of the authorized proceedings associated to that case.
See 50 Cent’s Instagram submit under.
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