A nefarious individual has allegedly breached rapper 50 Cent’s X account and absconded with millions of dollars in cryptocurrency following the promotion of a pump-and-dump scheme.

As per a recent report from Fox Business, the hip-hop artist revealed that his social media account was compromised by a scammer who managed to siphon off $3 million within a mere hour. Utilizing his account, which boasts 12.9 million followers, the fraudster endorsed a crypto token named GUNIT – a nod to the renowned hip-hop group he helped establish – luring in numerous investors.

Unfortunately, the token turned out to be part of a pump-and-dump ploy. In this scheme, the scammer introduced a new coin and leveraged the rapper’s substantial social media presence to artificially inflate its value before offloading all assets.

In a recent Instagram update, 50 Cent informed his fans about the breach of his X account and website, emphasizing that he has no connection to the GUNIT token. He stated, “My [X] and Thisis 50.com were hacked. I have no affiliation with this crypto. [X] swiftly secured my account. The perpetrator made $3 million in half an hour.”

According to Dex Screener, a decentralized exchange (DEX) data aggregation platform, GUNIT is currently trading at $0.0001245 with a market cap of $124,000.

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