A popular American rapper disclosed that he received an invitation from a bad crypto actor, convincing him to conduct a meme token fraud.
Kanye West is a popular American rapper, producer, and fashion designer known for his influence on hip-hop and pop culture. In his career, he created multiple award-winning albums. However, he has been successful in his career, but he attracted multiple controversies due to his outspoken personality and public statements.
On 8 Feb 2025, Kanye West shared a screenshot via his personal X (formerly Twitter) account and showed that an unknown person offered $2 million to promote a crypto meme token, but Kanye refused his offer.
That unknown person offered to first collect $750,000 & rest of the funds 16 hours later when he posted about the token via his X account.
That meme token scammer also shared a plan on how to lie with followers. The scammer suggested promoting the token & then deleting that tweet after 8 hours by saying that his X account was hacked.
In response, many Crypto X users started a new speculation around a similar type of X account hacking incidents & launch of meme tokens.
For the last two years, it has been a very common thing to see the hack of a high follower-based X account & promotion of a new crypto token. Later, the actual owner of the account said his account was stolen & he never backed any kind of crypto token.
Kanye West’s mixed stance toward Cryptocurrencies
Kanye West’s stance around Cryptocurrencies has been mixed. Initially, in 2020, he showed his full support for Bitcoin & other top cryptocurrencies, calling it the “true liberation of America”. Despite his strong supportive beliefs around digital assets, he failed to show his active involvement in this innovative space like other celebrities.
In early 2022, Kanye was “debanked” by JPMorgan following his controversial statements. At that time, Kanye praised & expressed support for Bitcoin. He stated that Bitcoin represents financial freedom and an alternative to traditional banking, which can cut people off based on political or social reasons.
Also, in the same year, he showed interest in the crypto sector via the NFT project. His “Ye” trademark linked to potential NFT projects, but he later officially distanced himself from that crypto NFTs project. He said that he was focused on “real world” use case-based crypto projects.
Even though he left crypto-related activities, some unofficial cryptocurrencies and NFTs used Kanye’s name.
Crypto X hacking incidents & questions
Following this latest disclosure by Kanye regarding such scam crypto token promotional deals, many people claimed that the majority of the X accounts hack incidents in the past were not real.
Here Bitcoinik.com believes that X owner Elon Musk should step into this matter to provide a tool to allow people publicly to understand whether the account was really stolen/hacked or not.
On the hacking incidents on the X platform, Cardano founder Charles Hoskinson many times urged Musk to take free help from Cardano developers to implement a security protocol to stop hacking incidents.
