Source: Bernard Smalls / @BeanzGotGamez / 50 Cent
Someone seemingly got rich off 50 Cent without having to die trying.
50 Cent says that his X, formerly Twitter account and website, ThisIs50.com, were the victims of a pump-and-dump crypto scam.
According to the rapper, the cyber thieves made off with $3,000,000, pushing a worthless GUNIT token according to the caption of his Instagram post.
“My Twitter & Thisis 50.com was hacked I have no association with this Crypto. Twitter worked quickly to lock my account back down. Who ever did this made $3,000,000 in 30 minutes,” the “Ayo Technology” crafter wrote.
The website Cointelegraph broke it all down, showing how hackers instantly became millionaires through the scheme.
Per Cointelegraph:
Cointelegraph reviewed trading data of the GUNIT memecoin on Dex Screener, showing that multiple wallet addresses sold significant amounts of the token. Four accounts sold more than $100,000 of the memecoin following its promotion on the rapper’s X account.
50 Cent claimed that users had been defrauded of over $300 million as a result, a figure that grossly overstates the value that anonymous traders made from selling GUNIT tokens. At the time of publication, the token had a total trading volume of $19.4 million.
Celebrities & The Crypto Craze
While 50 Cent’s foray into the world of cryptocurrency was not of his own making, many other celebs were out there pushing crypto, which caught the attention of the SEC.
Lil Yachty, Soulja Boy, Ne-Yo, Akon, Jake Paul, Lindsey Lohan, Austin Mahone, adult film actress Kendra Lust, 50 Cent’s homie Floyd Mayweather, T.I. and Kim Kardashian all got in trouble for pushing crypto and had to come out of their pockets.
50 Cent is ensuring he doesn’t suffer the same fate, letting the SEC know that he had nothing to do with the GUNIT coin.