Summary of Bitcoin, Web3, Ethereum, and Cryptocurrency:
- 50 Cent’s X account and website were hacked to promote a fake cryptocurrency named GUNIT
- The hackers used 50 Cent’s social media reach to attract investors for a pump-and-dump scheme
- Analysis shows GUNIT’s trading volume, top sellers, holders, and market cap
- In 2018, reports emerged that 50 Cent made millions by accepting Bitcoin as payment
- 50 Cent denied claims of being a Bitcoin millionaire from album sales in court
50 Cent’s Encounter with Fake Cryptocurrency:
Renowned rapper 50 Cent faced a situation where hackers compromised his X account and website to promote a fraudulent cryptocurrency named GUNIT, utilizing his massive social media following to attract investors. This pump-and-dump scheme saw the scammers make millions in a short amount of time, deceiving investors with inflated token prices that later plummeted.
GUNIT’s Trading Activity and Market Details:
Despite the initial scam, an analysis of GUNIT’s trading on Dex Screener reveals a total trading volume nearing $20 million, with significant selling activity by a few accounts. The meme coin currently has a modest number of holders and a market cap of $330,000, showing the aftermath of the pump-and-dump scheme orchestrated through 50 Cent’s platforms.
50 Cent’s History with Bitcoin:
In a separate incident from the fake cryptocurrency debacle, reports surfaced in 2018 about 50 Cent earning millions by accepting Bitcoin as payment for his album “Animal Ambition” in 2014. While initial estimations suggested he amassed a substantial amount in Bitcoin, 50 Cent later refuted these claims in court, denying any significant profit from his cryptocurrency dealings.
