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.
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 Caitlyn Jenner 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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