50 Cent and his millions of social media followers have fallen victim to a pump-and-dump crypto scam, allowing hackers to walk away with a substantial amount of money.
What We Know
The fraudsters took control of 50 Cent's Twitter and Instagram accounts, along with his Thisis50 website, to promote the $GUNIT memecoin. They artificially inflated its price before abruptly crashing it, leaving investors with significant losses.
The exact amount the scammers made remains unclear. Initially, 50 Cent stated on Instagram that "whoever did this made $300,000,000 in 30 minutes" (according to Cointelegraph), but he later edited the post to say $3,000,000.
In an Instagram post featuring screenshots, 50 Cent confirmed that his Twitter and Thisis50.com accounts had been hacked and that he had no involvement in the cryptocurrency scheme. He also mentioned that Twitter quickly blocked his account, and both his Twitter and Instagram accounts, along with Thisis50.com, are still inaccessible.
