On Friday, hackers took control of 50 Cent’s social media account in an attempt to sell a fake crypto coin.
The hackers accessed the rapper’s X account and his website, Thisis50, which they used to promote a crypto coin called $GUNIT, Engadget reports. The only problem is that the coin doesn’t actually exist. According to an Instagram post, 50 Cent says the hackers made $3 million in 30 minutes via the pump-and-dump scam.
As the issue unfolded on X and his website, 50 posted screenshots on Instagram telling fans he had no connection to the coin.
X was able to lock his account down and stop the hackers from posting, but not before they walked away with a pretty serious amount of cash. 50 Cent's website is still currently offline.
50 Cent having his own crypto coin isn't that far of a stretch. The hack comes just a few weeks after Caitlyn Jenner made waves with her coin, $Jenner.
Rapper Iggy Izalea also recently started promoting her own crypto coin, $Mother.
Some celebs have also faced legal trouble for promoting crypto without proper disclosures. In October 2022, the Securities and Exchange Commission (SEC) fined Kim Kardashian over $1 million for “unlawfully touting” a cryptocurrency asset on her Instagram account.
The following year, the SEC charged several celebrities and influencers—including actress Lindsay Lohan, YouTube personality Jake Paul, and rapper Lil Yachty—with allegedly helping an entrepreneur pump up his cryptocurrencies.
In general, any mention of cryptocurrency on a celeb's social media account is a red flag.