Renowned artist Curtis James Jackson III, famously known as “50 Cent,” has forcefully distanced himself from allegations linking him to a $500 million cryptocurrency scandal. The incident unfolded after hackers gained control of his communication platforms, including his Twitter account and website.
Malicious individuals took advantage of 50 Cent’s vast following, with nearly 13 million Twitter followers, to promote a fraudulent token called “GUNIT.” This scam involved artificially inflating the token’s value, followed by a massive sale that caused the price to plummet to a mere $0.00016.
50 Cent sending his coin to 50 Cent market cap
pic.twitter.com/WvVeCFi24W
— E-go (@EgoDriv)
June 21, 2024
Despite the hack, the artist, who also boasts a substantial fan base on Instagram, exceeding 33 million followers, shared details about the incident. He clarified that the Twitter team swiftly took action to regain control of his account. “Twitter acted swiftly to secure my account again. The individual responsible for this made $300 million in just 30 minutes,” Fif explained on his social media.
Reiterating his stance, the rapper emphasized that he has no connection to the GUNIT token. He even shared screenshots of discussions within the crypto community to further distance himself from the scheme. While this incident may suggest otherwise, it is not 50 Cent’s first involvement with cryptocurrencies. In 2018, he made headlines when reports claimed that he had made significant profits from Bitcoin through early adoption, allowing fans to purchase his album “Animal Ambition” with Bitcoin.
However, the artist himself later refuted these reports in legal documents during his bankruptcy proceedings, clarifying that Bitcoin payments did not result in substantial profits. Since then, despite occasional rumors, 50 Cent’s involvement in cryptocurrencies has been sporadic and less lucrative than previously speculated.
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The views and opinions expressed by the author, as well as anyone mentioned in this article, are solely for informational purposes and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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