Rugpull with fake meme coin!

Curtis James Jackson III, one of the most famous names in the music world, with his stage name 50 Cent, claimed that his X account and website were hacked. It is believed that the hacker used 50 Cent’s account to promote a fake meme coin project and made a lot of money in a short period of time. Here is the event that cast a shadow over the cryptocurrency market…

Meme coin was launched from the account of 50 Cent

The incident occurred on June 21. 50 Cent announced in his post on his Instagram account with 32.8 million followers that his X account and website were hacked. He stated that the attackers committed fraud by creating a new cryptocurrency called “GUNIT” and thus made millions of dollars in unfair profits. How Cryptocoin.com Reportedly, in this method, also called “rug pull,” scammers exploit the popularity of celebrities to create artificial demand. In this way, they lure investors by increasing the value of the cryptocurrency. They then withdraw all the deposited money and exit the market. As a result of this sudden movement, the value of the cryptocurrency drops rapidly and investors suffer huge losses.

According to 50 Cent’s post, hackers managed to attract investments in the cryptocurrency GUNIT with the help of his approximately 12.9 million X followers. GUNIT, whose price was rising rapidly, then suddenly lost value. The price of GUNIT rose as high as $0.05 within 24 hours, but soon lost 95% of its value and is currently trading at $0.000165. 50 Cent said in his post on his Instagram account, “My He also warned the investors by sharing charts showing the change in the value of the cryptocurrency.

The “hacking” dilemma of celebrity X-accounts

This incident raises an issue that has been frequently occurring in the cryptocurrency markets recently. Recently, many famous names have been involved in promoting various cryptocurrencies. This situation raises question marks in the minds of investors. For example, famous TV star Caitlyn Jenner recently found herself in a similar situation when she launched her own cryptocurrency JENNER. Although speculations that Jenner’s X account was hacked were initially dismissed, they later came to the fore again. While Jenner defended her JENNER token, she also fought allegations that her account had been compromised.

On May 27, sources reported that Jenner asked her followers on her account X to “send me your favorite meme coins.” Although Jenner later deleted this post, he continued to promote the JENNER token. In his post on his account, he said:

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