🌎 50 Cent’s Social Media Hacked to Promote Fake Cryptocurrency GUNIT

Renowned rapper 50 Cent recently disclosed that hackers hijacked his X account and personal website to promote a fake cryptocurrency.

On June 21, Curtis James Jackson, known as 50 Cent, informed his 32.8 million Instagram followers that both his X account and personal website had been compromised.

The hackers used these platforms to endorse a new meme coin named GUNIT, after the hip-hop group 50 Cent founded in the late 1990s.

50 Cent has no connection with the fake cryptocurrency. The “Expendables 4” star explained that the hackers exploited his extensive social media reach to attract investors.

The scam, known as a pump-and-dump scheme, involved creating the GUNIT token and leveraging 50 Cent’s influence—he has around 12.9 million followers on X—to inflate the token’s price. As investors poured in, the value of GUNIT reportedly soared, only to plummet to $0.00016 after the scammers sold their holdings.

50 Cent shared several screenshots on Instagram, highlighting the meteoric rise and abrupt fall of GUNIT’s market value. The hackers are believed to have made off with as much as $300 million in just 30 minutes.

However, an analysis of GUNIT trading activity shows the token’s total trading volume in the last 16 hours is just shy of $20 million.

Notably, five accounts offloaded more than 670 million GUNIT tokens worth upwards of $2.3 million. The meme coin currently has 2,799 holders and a market cap of $330,000.

This latest incident isn’t 50 Cent’s first encounter with cryptocurrency. In 2018, reports emerged that the rapper had made millions by accepting Bitcoin (BTC) as payment for his album, “Animal Ambition” in 2014.

While it was initially reported that 50 Cent amassed around 700 BTC, netting him about $463,000, he later denied these claims in court. He stated that although he did accept Bitcoin as payment, it did not result in significant earnings for him.