A nefarious individual has reportedly hacked into the online account of the famous rapper, 50 Cent, and illicitly obtained millions of dollars’ worth of cryptocurrency through a pump-and-dump scheme.
According to a recent report by Fox Business, 50 Cent claims that his social media account was infiltrated by a scammer who managed to steal $3 million in less than an hour. The fraudster took advantage of the rapper’s considerable following of 12.9 million users to promote a cryptocurrency token called GUNIT, named after the popular hip-hop group he helped establish. This led numerous investors to purchase the token, unaware of its true nature.
Unfortunately, the GUNIT token turned out to be a pump-and-dump scheme, in which the scammer created a new coin and exploited 50 Cent’s significant social media influence to artificially inflate its value before selling off all their holdings.
In an Instagram post, 50 Cent informed his fans that both his online account and his website had been compromised, emphasizing that he has no association with the GUNIT token. He also expressed his gratitude to the platform for swiftly regaining control of his account. The rapper revealed that the hacker managed to make $3 million within just 30 minutes.
According to Dex Screener, a decentralized exchange data-aggregating platform, the GUNIT token is currently trading at $0.0001245, with a market capitalization of $124,000.
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