Renowned music artist 50 Cent has caused quite a stir by announcing the launch of his very own altcoin on an undisclosed platform. The news quickly spread across social media, catching the attention of crypto enthusiasts worldwide.
In a surprising turn of events, 50 Cent’s Twitter account was hacked, and the hacker used it to promote a cryptocurrency called GUNIT. Within just 30 minutes of the promotional tweet, the market cap of GUNIT tokens surged to over $8 million. However, 50 Cent promptly deleted the tweet and took to Instagram to clarify that he had no involvement with GUNIT and that his Twitter account had been compromised.
This incident sheds light on the growing trend of celebrities, especially in the US, launching their own tokens and reaping substantial profits from these meme coins. However, it is important to note that 50 Cent’s claim of earning $300 million from the hack is unlikely to be accurate. The token’s market value reached a maximum of $8 million, and considering the hacker’s inability to sell all the tokens at their peak price, their actual profits are expected to be much lower.
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Note: This article does not serve as investment advice.
