Famous Rapper’s Account Hacked: Rugpull Happened with Fake Chest Coin!

Curtis James Jackson III, one of the well-known 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 chest coin project and make a huge profit in a short time. Here is the event that cast a shadow on the cryptocurrency market…

Chest coin introduced from 50 Cent’s account

The incident took place on June 21. 50 Cent announced that his X account and website were hacked in his post on his Instagram account with 32.8 million followers. He stated that the attackers committed fraud by creating a new cryptocurrency called “GUNIT” and thus gained millions of dollars of unfair advantage. cryptokoin.com As we reported, in this method, also called “Rug Pull”, scammers take advantage of the popularity of celebrities to create an artificial demand. In this way, they attract investors by increasing the value of the cryptocurrency. Then, they withdraw all deposited money and exit the market. As a result of this sudden movement, the value of the cryptocurrency drops rapidly and investors suffer great losses.

According to 50 Cent’s post, hackers managed to attract investments in the cryptocurrency called GUNIT by using his approximately 12.9 million X followers. GUNIT, whose price rose rapidly, then suddenly lost its value. The price of GUNIT rose to $0.05 within 24 hours, but after a short time it lost 95% of its value and is currently trading at $0.000165. 50 Cent, in his post on his Instagram account, said, “My X account was quickly frozen. The person who did this earned $300 million in 30 minutes. “I have no connection with this cryptocurrency,” he said. He also warned investors by sharing graphs showing the change in the value of the cryptocurrency.

“Hacking” dilemma on celebrities’ X accounts

This incident brings to the fore a problem that has been frequently encountered in cryptocurrency markets recently. Many famous names have been involved in the promotion of various cryptocurrencies recently. This situation creates question marks for investors. For example, recently the famous television star Caitlyn Jenner faced a similar situation when she launched her own cryptocurrency JENNER. Although speculations that Jenner’s X account was hacked were initially rejected, they later came to the fore again. While Jenner was defending the JENNER token, he was also dealing with allegations that his account had been compromised.

On May 27, sources reported that Jenner invited her followers on her X account to “Send me your favorite chest coins.” Although Jenner later deleted this post, he continued to promote the JENNER token. In his post from his account, X said, “The advertisement of the third party token has been removed! As I’ve said from the beginning, my only focus is $Jenner. My post confused a lot of people. “As I have said repeatedly, my entire focus is on my own token, $Jenner,” he said.