50 Cent's Twitter Account Hacked for $18.6M Solana Token Pump-and-Dump

50 Cent's Twitter account was hacked on Friday, allowing hackers to orchestrate a pump-and-dump scheme for a new Solana token called GUNIT. The hackers posted a flurry of tweets promoting GUNIT coin, referencing 50 Cent's cognac brand and other celebrity crypto projects. At first glance, the posts seemed legitimate, enticing many crypto enthusiasts to jump on board.

The result was a massive trading volume of $18.6 million in just 40 minutes, with GUNIT's value skyrocketing by an astonishing 8,000%. However, the party didn't last long as 50 Cent confirmed the hack on Instagram, stating 'My Twitter and website got hacked.' He tagged his cognac brand in the post.

Twitter quickly locked 50 Cent's account, making all tweets inaccessible. GUNIT's value plummeted on the news, but some investors still saw potential, with the token's market cap sitting at around $150,000 at the time of writing.