The Account of Rapper 50 Cent Was Hacked to Pump and Dump False GUNIT Crypto 🤯😡

Rapper 50 Cent, real name Curtis Jackson, lost control of his Twitter account last Friday due to a sophisticated hack. The hacker created the impression that 50 Cent was promoting the token GUNIT, a new cryptocurrency, by using the platform to promote it. But as it turned out, it was a fraudulent pump-and-dump operation.

To give the impression that the hoax was real, the hacker craftily included references to 50 Cent's cognac brand and past experience with bitcoins in their tweets.

Due to the significant rise in investments brought about by this strategy, GUNIT's trading volume surged by 8,000% before unexpectedly collapsing.

This episode is a part of a worrying trend where verified accounts are being used to advertise fake coins, regardless of how well-known their owners are.

Notable individuals such as the head scientist of OpenAI and the official account of Microsoft India have been impacted by similar attacks, underscoring the grave danger that internet platforms face.

When 50 Cent claimed on Instagram that his website and Twitter had been hacked, the hoax became apparent.

GUNIT's market cap remained at about $150,000 even after the fraud was discovered since some investors kept buying the currency.

This instance illustrates the dangers of using meme currencies supported by celebrities. It is urged that before making an investment, investors proceed with caution and carefully confirm the veracity of the endorsements.

Strong authentication procedures must also be put in place in order to stop similar hacks and shield internet platforms from abuse.