A hacker used 50 Cent’s X (formerly known as Twitter) account to pull off a cryptocurrency scam. The rapper/television producer informed fans he wasn’t responsible for posts promoting a memecoin called $GUNIT on Friday (June 21).
“My Twitter was hacked I have no association with this Crypto,” he wrote on Instagram. “Twitter worked quickly to lock my account back down. Who ever did this made $720,000 in 30 minutes.”
All of 50 Cent’s posts were removed once X stepped in to secure the account, but the damage was already done. The hacker’s crypto pump-and-dump scam successfully ripped off people who believed 50 Cent legitimately endorsed the coin.
Crypto pump-and-dump scammers manipulate the volatile market to exploit naive investors. The culprits create or buy up an altcoin. They promote it – using underhanded tactics like hacking 50 Cent’s account – to artificially inflate the price before engaging in a mass sell-off, leaving victims with coins worth little to nothing.
The hacking of 50 Cent was just the latest headache for the G-Unit boss. As AllHipHop previously reported, drug kingpin Cory “Ghost” Holland threatened the producer of Power and its various spinoffs.
“If a m########### gets killed because your m############ client threaten me and my family, file a m############ motion for that,” Holland wrote to 50 Cent’s lawyers. “I ain’t playing with your m############ client no more, next time he or anyone he sends pull up, f### the litigation.”
Holland sued 50 Cent, claiming Power ripped off the real-life Ghost’s life story. Holland sought $1 billion in damages for defamation, emotional distress, mental anguish and theft of identity.
