Rapper 50 Cent recently revealed that his social media accounts were hacked to promote a fake cryptocurrency called GUNIT. The hackers exploited his significant influence to pump up the value of the token, making millions of dollars in just 30 minutes. The scam involved creating the GUNIT token and using 50 Cent's social media platforms to endorse it, attracting investors who lost money when the value plummeted.

50 Cent took to Instagram to alert his followers that both his X account and personal website had been compromised. He explained that the hackers used his platforms to promote the GUNIT token, which surged in value before crashing. The rapper emphasized that he had no connection with the fake cryptocurrency and that the hackers made off with $300 million in just 30 minutes.

The incident highlights the growing threat of cybercrime in the crypto space. Celebrities like 50 Cent and Hulk Hogan have fallen victim to similar hacking incidents, with hackers using their influence to promote fraudulent coins. The GUNIT token's market capitalization currently stands at $330,000, a far cry from its peak value.

50 Cent's experience serves as a cautionary tale for investors to be vigilant and not fall prey to pump-and-dump schemes. The rapper's swift action in alerting his followers and distancing himself from the scam helped to mitigate the damage.