Today, a confusing development occurred in the cryptocurrency world. The development is related to the famous American rapper 50 Cent. The famous rapper’s X account was hacked. The details of the hack are even more interesting. Immediately after the hack, a tweet was shared from the account. The tweet mentioned a cryptocurrency and directed the account’s followers. Here are the details.
GUNIT Token Promoted from the Account
The mentioned tweet promoted GUNIT tokens from the account. It also included a link claimed to be for entertainment purposes. The immediate reaction to this tweet was truly dramatic. Within just 30 minutes, the market value of GUNIT tokens exceeded 8 million dollars. This rapid increase was interesting as it showed how much influence celebrities’ social media accounts have on financial markets.
The market’s initial reaction clearly reflected feelings of excitement and enthusiasm. Investors and 50 Cent fans immediately jumped on this opportunity, which seemed like a lucrative chance. The token’s value reached unprecedented levels in an instant. So, what happened next?
There is a famous concept in the cryptocurrency world called pump and dump. As you know, it means inflate and dump. Naturally, when this announcement was made from the account of a famous figure like 50 Cent, participation in token purchases peaked. However, the aftermath of this development was unfortunate.
50 Cent Deleted the Tweet
Afterward, the situation took an unexpected turn when 50 Cent deleted the tweet. Following the deletion, 50 Cent made a post on Instagram to clarify the circumstances surrounding the promotion of GUNIT tokens. In the Instagram post, 50 Cent stated that his Twitter account was hacked and that the tweet about GUNIT tokens was not written by him. He emphasized that the hacker was responsible for publishing information about the token, claiming that the entire event was organized without his knowledge or consent.
The rapper’s claim of a hacking incident once again highlighted for us the critical issues of cybersecurity and the reliability of online endorsements. The token’s price plummeted immediately after the truth came to light. As always, it was the small investors who suffered.
