50 Cent's X Account Hacked to Promote Solana Memecoin

Bittime - 50 Cent's X account was hacked to promote the memecoin GUNIT, which made $300 million. Many people fall into the trap of buying GUNIT before realizing that it is a scam. This case shows how important it is to be careful when making crypto investments.

50 Cent's X Account Hacked to Promote Memecoin

Recently 50 Cent revealed that his X account was hacked in an Instagram post. Additionally, he denied any involvement with the GUNIT meme coin, which was promoted by the X account. 

He also stated that hackers made $300 million from the complex scam. Nonetheless, considering memecoin's market capitalization and liquidity before it quickly became a scam, it seems unlikely.

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Many People Sell Memecoin GUNIT 

Many people sold the GUNIT memecoin assuming that he was the owner before seeing 50 Cent's post. There are several promotional posts about the GUNIT memecoin created using Pump.fun by the X rapper account. 

The crypto token experienced millions of dollars in trading volume before being exposed as a scam, and reached an all-time high market capitalization (ATH) of $6.5 million in less than an hour.

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Many FOMO Celebrities Create Memecoins

Considering that many other artists have recently created memecoins and actively promoted them on their X accounts, 50 Cent seems to be doing so as well. Those celebrities include rapper Iggy Azalea, who created the “MOTHER” memecoin, which is currently worth about $57 million on the market.

Hacker Makes Post Referring to Memecoin

Additionally, the posts made by hackers appear to be carefully and carefully crafted. Some of them refer to the 50 Cent cognac brand. Others also discussed recent matters in the Solana memecoin space, such as Martin Shkreli's alleged creation of the DJT memecoin, which is thought to belong to former US President Donald Trump.

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Conclusion

After 50 Cent's X account was hacked and used to promote the memecoin GUNIT, the hacker allegedly made $300 million from the scam, although that figure seems far-fetched. Many people get caught in the scam and buy GUNIT before they realize it is a scam.

Other celebrities who create and promote memecoins, such as Iggy Azalea with the meme "MOTHER," are examples of this trend. This case shows how important it is to be careful when investing, especially when investing in the crypto market, which is often prone to fraud.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Read more:

Caitlyn Jenner's Social Media Account Promotes Memecoin: Hack or Strategy?

Solana Rises to 16-Month High, Driven by Memecoin Trend

3 Best Solana Memecoin Tokens That Attract Crypto Market Attention

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.