Caitlyn Jenner, the former Olympic athlete and reality TV star, has found herself at the center of a cryptocurrency controversy after her X and Instagram accounts promoted a new memecoin called JENNER.
The sudden announcement of the token, launched on the Solana-based platform pump.fun, has sparked a heated debate within the crypto community about the authenticity of the project and the possibility of a coordinated scam.
TLDR
- Caitlyn Jenner’s X and Instagram accounts promoted a new memecoin called JENNER, sparking debate about the authenticity of the posts.
- Videos featuring Jenner and her manager, Sophia Hutchins, claimed the project was legitimate, but skepticism persisted in the crypto community.
- The JENNER token’s wallet address was linked to a previously hacked account promoting another token, raising concerns about a potential scam.
- Other celebrity accounts, including rapper Rich The Kid and crypto influencer GCR, were also hacked, with their accounts promoting various tokens.
- Despite the controversy, the JENNER token experienced a significant price increase and reached a market capitalization of $18 million.
Videos featuring Jenner and her manager, Sophia Hutchins, surfaced on social media, with both individuals claiming that the JENNER token was a legitimate venture.
Hutchins even participated in a Twitter Space discussion to address concerns and reassure followers that Jenner’s accounts had not been compromised.
However, many in the crypto community remained skeptical, citing a lack of clear answers about the token’s value proposition and the timing of the launch.
Further fueling the suspicions was the discovery that the wallet address associated with the JENNER token had been previously linked to another hacked account.
Adult content creator Kazumi’s account, which had promoted a different token called ZUMI just days earlier, shared the same wallet address as the JENNER token.
This connection raised red flags among crypto enthusiasts, who began to speculate about the possibility of a coordinated scam.
The JENNER token controversy comes amidst a wave of similar incidents involving celebrity accounts on social media platforms.
Rapper Rich The Kid and prominent crypto investor Gigantic-Cassocked-Rebirth (GCR) both had their X accounts hacked, with the compromised accounts promoting various tokens.
While Rich The Kid’s post was eventually deleted, GCR’s account posted about ORDI and LUNA2, causing brief price spikes for both tokens.
Despite the concerns and skepticism surrounding the JENNER token, it experienced a remarkable price increase of 28,000% within a single day.
According to DEX Screener data, the token reached a market capitalization of $18 million, attracting attention from both curious investors and those wary of potential fraud.
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