As an experienced financial analyst, I cannot help but be alarmed by the recent incident involving American rapper, actor, and businessman 50 Cent (Curtis James Jackson III) and the hacking of his X account. The quick promotion of a scam coin, GUNIT, and the subsequent rugpull resulting in a loss of hundreds of millions of dollars for unsuspecting investors is a stark reminder of the potential risks associated with cryptocurrencies.
Paraphrasing:
The rapper, having regained control of his @X account, took to Instagram to clarify that he held no affiliation with the stolen digital token whatsoever. He further disclosed that the unidentified hacker had amassed an enormous fortune of hundreds of millions of US dollars in a brief span of minutes.
50 Cents clarifies scam token situation
Colin Wu posted on Twitter that 50 Cent had shared an X post endorsing the meme coin, GUNIT. He included a link and encouraged his audience to check it out. In less than half an hour, the value of GUNIT’s market cap skyrocketed to an impressive $8 million.
Fifty Cent, a renowned American rapper, unexpectedly shared a tweet about GUNIT tokens and included a link aimed at increasing hype around the cryptocurrency. Approximately thirty minutes after the post, the market value of GUNIT surged past $8 million. However, just as swiftly as it had appeared, Fifty Cent removed the tweet from his account, explaining on Instagram that his Twitter account had been compromised.
— Wu Blockchain (@WuBlockchain) June 22, 2024
The hacker swiftly executed a rugpull, leaving investors shocked as they lost an astonishing $300 million in mere half an hour. Fifty Cent took to Instagram to clarify his non-involvement with GUNIT coins, and disclosed that he had regained control of his X handle. However, during the hacker’s reign, they launched the meme coin and pocketed significant profits from it.
The tweet promoting GUNIT was deleted by the rapper once he was able to access his account.
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2024-06-22 13:38