American rapper and actor 50 Cent was once not too long ago on the heart of a meme coin saga at the Solana community. The rapper refuted selling the GUNIT meme coin, claiming his X (previously Twitter) account was once hacked through people pushing the cryptocurrency.
Hackers Goal 50 Cent’s Account To Advertise Faux Crypto
50 Cent published in an Instagram publish that his X account was once hacked whilst denying any ties to the GUNIT meme coin, which was once promoted on his X account. He added that the hacker made $300 million from this elaborate rip-off. On the other hand, that appears not going, taking into consideration the meme coin’s liquidity and marketplace cap ahead of it was once temporarily came upon as a rip-off.
Prior to 50 Cent’s revelation, many traded the GUNIT meme coin according to the realization that it was once owned through the rapper. The rapper’s X account made a number of promotional posts concerning the GUNIT meme coin, which was once created thru Pump.a laugh. The crypto token witnessed hundreds of thousands of bucks in buying and selling quantity and rose to an all-time prime (ATH) marketplace capitalization of $6.5 million in just below an hour ahead of it was once published to be a rip-off.
50 Cent growing the meme coin and selling it on his account gave the look of an actual risk, taking into consideration {that a} host of alternative celebrities have not too long ago created their meme cash and actively promoted them on their X account. This comprises Rapper Iggy Azalea, who created the MOTHER meme coin, which recently has a marketplace capitalization of round $57 million.
The posts made through the hacker had been additionally well-planned and appeared convincing, as some referenced 50 Cent’s cognac logo. Others additionally alluded to the new happenings within the Solana meme coin area, together with Martin Shkreli’s alleged advent of the DJT meme coin, which was once believed to had been owned through former US President Donald Trump.
A New And Worrisome Development
50 Cent isn’t the primary superstar to have had his X account hacked to be able to advertise a meme coin. Previous this month, wrestling legend Hulk Hogan additionally suffered a an identical destiny as he claimed he didn’t make the promotional posts from his X account, which promoted the HULK meme coin.
Scammers are profiting from the movie star meme coin development to create meme cash and provides the misconception {that a} explicit superstar certainly created them. Even supposing Donald Trump’s account wasn’t hacked, one thing an identical took place with the DJT meme coin. It pumped on unconfirmed studies that Trump created it and sooner or later dumped after it was once showed that it had no ties with the previous US president.
Normally, some, together with Ethereum’s co-founder Vitalik Buterin, have criticized the movie star meme coin development, noting how they lack innovation and are merely money grabs.
Featured symbol from SecurityMadeSimple, chart from TradingView