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Popular hip-hop rapper 50 Cent has found himself at the centre of a massive cryptocurrency scam. The “In Da Club” rapper, whose real name is Curtis James Jackson III, claims his X (formerly Twitter) account and website were hacked, leading to a staggering $300 million fraud.
The scammers created a new digital coin called “GUNIT” and used 50 Cent’s large following on X, about 12.9 million people, to attract investors. This “pump-and-dump” scheme quickly saw the token’s value skyrocket before crashing down, leaving investors high and dry.
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 Image Source: <a href="https://www.instagram.com/50cent/p/C8fW3MrO46P/?hl=en&amp;img_index=1" target="_blank" rel="noopener noreferrer nofollow">50 Cent</a>
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50 Cent addressed the issue on Instagram, where he has 32.8 million followers. He said, “Twitter worked quickly to lock my account back down. Whoever did this made $300,000,000 in 30 minutes.” The rapper made it clear that he had nothing to do with this cryptocurrency.
However, this incident is part of a growing trend where famous people are linked to cryptocurrency launches. Recently, reality TV star <a href="https://www.cryptotimes.io/2024/05/27/caitlyn-jenners-meme-coin-promotion-sparks-hack-suspicions/" rel="noopener noreferrer nofollow">Caitlyn Jenner</a> also caused confusion when she promoted her own digital coin.
This 50 Cent case shows the risks in the world of cryptocurrency. It highlights how even well-known celebrities can be targets of online scams. For regular investors, it’s a reminder to be careful when considering new digital currencies, especially those promoted by celebrities. According to 50 Cent, investigations into the GUNIT scam are still going on.
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Rapper 50 Cent’s X Account Was Hacked, Leading to $300m Rug Pull

The Crypto Times

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