Celebrity Crypto Hacks: 50 Cent’s Twitter Account
If you’ve been following the recent trend of celebrities launching their own meme coins, you might have come across the news of rapper 50 Cent, aka Curtis Jackson, falling victim to a hack on his Twitter account. In a shocking turn of events, his account was used to promote a fake Solana token, leading to a pump-and-dump scam that saw millions of dollars poured into the fraudulent project.
The Twitter Scam Unfolds
Here’s a breakdown of how the scam played out:
- Promotional Tweets: 50 Cent’s Twitter account began posting promotional tweets for a new Solana token called GUNIT, launched via Pump.fun.
- Elaborate Posts: Some posts referenced the rapper’s cognac brand and mentioned other celebrity-related crypto stories.
- Suspicion Grows: While some users were suspicious, many were unsure if the posts were legitimate.
The Aftermath of the Hack
As a result of the scam:
- Massive Trading Volume: GUNIT saw a total trading volume of $18.6 million within 40 minutes, with an 8,000% increase in value before crashing.
- Investment Frenzy: Despite warning signs, investors rushed to buy the token, drawn by the celebrity endorsement trend.
Revelation of the Scam
Soon after the token’s launch:
- Hacked Account: 50 Cent revealed through his Instagram that his Twitter account had been hacked.
- Account Lockdown: Twitter locked 50 Cent’s account, making all posts inaccessible.
The Fallout Continues
Even after the scam was exposed:
- Value Decline: GUNIT’s value plummeted, but it still maintained a market capitalization of about $150,000.
- Continued Trading: Fresh purchases of the token continued, despite the hack.
Lessons from the Incident
This incident highlights:
- Vulnerability of Celebrities: Public figures are at risk of hacks during the celebrity meme coin craze.
- Financial Implications: The exploit was said to have resulted in a $300 million loss, illustrating the potential dangers of such scams.
Hot Take: Stay Vigilant in the Crypto Space
As a crypto enthusiast, it’s essential to:
- Verify Information: Always double-check before investing in any project, especially those endorsed by celebrities.
- Report Suspicious Activity: If you come across any suspicious activity or scams, report them to the relevant platforms for swift action.
Sources:
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