Famed rapper Curtis ’50 Cent’ Jackson III has strongly refuted any association with a $500 million cryptocurrency con. The hoax involved hackers seizing his Twitter account and website to push forward a fraudulent cryptocurrency token known as “GUNIT”. With 50 Cent’s massive following, the cyber criminals were able to create a classic rug pull – a scheme that rapidly escalated the value of the GUNIT token before its absolute crash.
In this elaborate trickery, unsuspecting investors saw the falsely inflated value of the GUNIT token plunging to rock bottom prices – $0.00016 to be precise. The rapper wasn’t silent about the fiasco and immediately informed his colossal Instagram audience of 33 million about the hack, revealing the formidable sum of money the cryptocurrency fraudsters absconded with.
50 Cent, surprisingly co-operative with Twitter, applauded their swift action in re-securing his account, mentioning in a post that almost $300 million was stolen by the hackers within a span of just 30 minutes. While sharing the details of the hack, he absolved himself from any connections with the GUNIT token, even going the extra mile to share images of ensuing dialogues within the crypto community regarding the bogus token.
In a brief encounter with the world of digital assets back in 2018, 50 Cent was supposedly assumed to have made millions by being an early adopter of Bitcoin. It was even rumoured that he accepted Bitcoin payments for his album “Animal Ambition”, allegedly earning him around 700 bitcoins, assessing to roughly between $7 million and $8.5 million. However, these assumptions were squashed by the rapper as he confided in court during his bankruptcy proceedings that although he did process bitcoin transactions for his album, they resulted in no significant profits. Some suspect stories may float around, but it appears that 50 Cent’s actual involvement with cryptocurrencies is very much limited and not as profitable as previously thought.