- Rapper 50 Cent’s social media account has become the latest victim of a cyber-attack, resulting in significant financial losses.
- The incident sheds light on the growing risks associated with high-profile social media accounts being used in fraudulent cryptocurrency schemes.
- 50 Cent publicly announced the breach, informing his followers of the manipulative tactics deployed by the hacker.
Rapper 50 Cent’s social media account hack underscores the persistent cybersecurity threats in the cryptocurrency space, with millions lost to a pump-and-dump scheme.
Rapper 50 Cent’s X Account Hacked: Millions in Crypto Stolen
Rapper 50 Cent has fallen prey to a hacker who compromised his social media account, X, and reportedly siphoned off over $3 million in cryptocurrency within a mere 30 minutes. The cyber-attack has put a spotlight on the vulnerabilities associated with high-profile accounts being exploited for fraudulent activities.
Exploitation of the GUNIT Token
The hacker utilized 50 Cent’s substantial follower base of 12.9 million on X to promote a dubious cryptocurrency token, GUNIT. The token leveraged the rapper’s brand association to gain traction quickly, resulting in an unknown number of followers being lured into a pump-and-dump scheme where the token’s value was artificially inflated before the fraudster cashed out, leading to significant financial losses for investors.
The Immediate Response and Public Disclosure
Upon recognizing the breach, 50 Cent took to Instagram to alert his fans and followers. He clarified that he had no involvement with the GUNIT token and explained how his social media account and official website had been compromised. He praised the prompt action taken by X to secure his account, albeit the damage had already been done. “My [X] and Thisis50.com were hacked. I have no association with this crypto. [X] worked quickly to lock my account back down. Whoever did this made $3 million in 30 minutes,” he shared on his Instagram post.
Current Status of the GUNIT Token
According to data from decentralized exchange aggregator Dex Screener, the GUNIT token’s value has plummeted to $0.0001245, with its market capitalization standing at a modest $124,000 at the time of writing. The rapid devaluation highlights the precarious nature of such pump-and-dump schemes and the risks they pose to unsuspecting investors.
Conclusion
This incident involving 50 Cent is a stark reminder of the vulnerabilities within the cryptocurrency market, particularly when leveraged through high-profile social media accounts. It’s essential for investors to exercise heightened vigilance and conduct thorough due diligence before engaging in cryptocurrency investments. The swift response to secure the account may prevent further immediate damage, but the repercussions for affected investors and the broader implications for cybersecurity in the crypto space remain significant.
