American rapper and actor 50 cents He was recently at the center of a coin-op saga Solana Network. The rapper refuted the GUNIT coin promotion meme, claiming that his X (formerly Twitter) account was hacked by individuals promoting the cryptocurrency.
Hackers targeted 50 Cent’s account for promoting fake cryptocurrencies
50 cents open In an Instagram post, his X account was hacked while denying any ties to the GUNIT meme coin, which was promoted on his X account. He added that the hacker earned $300 million from this complex scam. However, this seems unlikely, considering Liquidity of Mimi coin and market value before it is quickly discovered to be a scam.
Prior to the 50 Cent reveal, many circulated the GUNIT meme coin based on the belief that it was owned by the rapper. Rapper X’s account posted several promotional posts about the GUNIT meme coin, which was created by Pump.fun. The cryptocurrency token saw multi-million dollar trading volume and rose to an all-time high (ATH) Market value worth $6.5 million in just under an hour before it was revealed to be a scam.
50 Cent creating a meme coin and promoting it on his account seems like a real possibility, considering that a Host of other celebrities They recently created their own coins and are actively promoting them on their X account. This includes Rapper Iggy Azaleawho created the MOTHER meme coin, which currently has a market cap of around $57 million.
The hacker’s posts were also well-planned and appeared convincing, with some referencing the cognac brand 50 Cent. Others also alluded to recent events in the Solana meme space, including Martin Shkreli The alleged creation of the DJT meme coin, which is believed to have been owned by former US President Donald Trump.
A new and worrying trend
50 Cent is not the first celebrity to have his X account hacked in order to promote a meme currency. Earlier this month, wrestling legend Hulk Hogan also suffered a similar fate claimed He did not post promotional posts from his X account, which promoted the HULK meme coin.
Scammers take advantage of the celebrity meme coin trend to create meme coins and give the false impression that a celebrity actually created them. Although Donald Trump’s account was not hacked, something similar happened with… DJT meme coin. Pumped on unconfirmed reports it Trump card He created it and eventually got rid of it after ensuring that it had no ties to the former US president.
Generally, some, incl Ethereum co-founder Vitalik Buterincriticized the celebrity coin trend, stating that they lack innovation and are simply a money grab.
Featured image from SecurityMadeSimple, chart from TradingView