According to BlockBeats, renowned rapper Curtis James Jackson III, better known by his stage name '50 Cent', reported that his X account and website were hacked. The hackers used his account to promote and sell the Meme token GUNIT, defrauding victims of $300 million.

The hackers reportedly exploited 50 Cent's large following, approximately 12.9 million fans, to attract more investors and inflate the price before performing a 'rug pull'. A 'rug pull' is a type of scam where developers abandon a project and run away with investors' funds.

50 Cent stated, 'Twitter quickly froze my account. Whoever did this made $300 million in 30 minutes, and I have no connection with this cryptocurrency.' This incident underscores the potential risks associated with cryptocurrencies and the importance of robust security measures.