A bad actor has reportedly hacked into rapper 50 Cent’s X account and stolen millions of dollars worth of crypto after promoting a pump-and-dump scheme.

According to a new report by Fox Business, the rap artist says that his social media account was hacked by a scammer who made away with $3 million in under an hour.

50 Cent says that the fraudster used his account, which has 12.9 million followers, to promote a crypto token known as GUNIT – a reference to the popular hip-hop group he co-founded – causing an unknown amount of investors to purchase it.

However, the token ended up being a pump-and-dump scheme, where a fraudster created a new coin and used the rapper’s large social media following to inflate its price before selling all holdings.

In a recent post on Instagram, 50 Cent notified his fans that his X account as well as his website were compromised and also noted that he has no association with the GUNIT token

“My [X] and Thisis 50.com was hacked. I have no association with this crypto. [X] worked quickly to lock my account back down. Whoever did this made $3 million in 30 minutes.”

According to the decentralized exchange (DEX) data-aggregating platform Dex Screener, GUNIT is trading for $0.0001245 at time of writing with a market cap of $124,000.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Hackers Take Over Rapper 50 Cent’s X Account To Steal Over $3,000,000 in Crypto: Report appeared first on The Daily Hodl.

A bad actor has reportedly hacked into rapper 50 Cent’s X account and stolen millions of dollars worth of crypto after promoting a pump-and-dump scheme.

According to a new report by Fox Business, the rap artist says that his social media account was hacked by a scammer who made away with $3 million in under an hour.

50 Cent says that the fraudster used his account, which has 12.9 million followers, to promote a crypto token known as GUNIT – a reference to the popular hip-hop group he co-founded – causing an unknown amount of investors to purchase it.

However, the token ended up being a pump-and-dump scheme, where a fraudster created a new coin and used the rapper’s large social media following to inflate its price before selling all holdings.

In a recent post on Instagram, 50 Cent notified his fans that his X account as well as his website were compromised and also noted that he has no association with the GUNIT token

“My [X] and Thisis 50.com was hacked. I have no association with this crypto. [X] worked quickly to lock my account back down. Whoever did this made $3 million in 30 minutes.”

According to the decentralized exchange (DEX) data-aggregating platform Dex Screener, GUNIT is trading for $0.0001245 at time of writing with a market cap of $124,000.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Hackers Take Over Rapper 50 Cent’s X Account To Steal Over $3,000,000 in Crypto: Report appeared first on The Daily Hodl.