Curtis “50 Cent” Jackson is not immune to crypto scams. The “In the Club” rapper turned media mogul, revealed he was the victim of a cryptocurrency scam that netted hackers millions of dollars.
Jackson shared on Instagram that his Twitter account and website, Thisis50.com, were hacked to promote a fraudulent cryptocurrency, resulting in a $3 million gain for the scammers within 30 minutes.
“My Twitter & Thisis 50.com was hacked,” 50 Cent wrote. “I have no association with this Crypto. Twitter worked quickly to lock my account back down. Whoever did this made $3,000,000 in 30 minutes.”
Get this: the hackers used a tactic known as a “pump-and-dump” scheme, where they flooded the accounts with promotional messages to inflate the cryptocurrency’s value artificially. Screenshots in 50 Cent’s post showed the $GUNIT crypto skyrocketing from under $1 million in market value.
This incident highlights social media platforms’ vulnerability to security breaches and the ease with which they can be exploited for financial scams. The rise of celebrity meme coins, which often depend on celebrity endorsements to boost their prices, has exacerbated the problem, making them attractive targets for such schemes.
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