Caitlyn Jenner Caught in Cryptocurrency Exit Scam

 

Prominent media personality Caitlyn Jenner has reportedly fallen victim to a cryptocurrency exit scam involving a meme coin named JENNER, which plummeted in value shortly after its launch.

The incident sparked numerous reactions within the crypto community, with initial speculation suggesting that the former Olympic gold medalist had been hacked. However, crypto figure Roxo disclosed that Jenner’s account had not been compromised but was manipulated by a middleman named Sahil.

In a detailed post, Roxo explained, “Jenner was never hacked. Her team was socially engineered by a guy named Sahil. He acted as the 'middleman,' launching the token for Jenner’s team, who lacked crypto expertise.”

The first tweet from Jenner’s account endorsing the JENNER token featured a photo of Jenner with former U.S. President and Republican candidate Donald Trump. The tweet, posted on a Sunday afternoon, encouraged followers to participate, stating, “Let’s all win together!! Send me some of your favorite memecoins here.”

Shortly after the token's launch, the developer sold off all holdings, raising red flags among investors. X user @0xPonga noted that the token, launched on pump.fun—a Solana-based platform for creating and trading meme coins—briefly surged to a $20 million market cap. This came after Jenner’s manager, Sophia, attempted to allay fears of a potential rug pull.

The Wild Ride of the $Jenner Token Scandal

Here’s a breakdown of the events:

• Initial Launch: Jenner’s account, boasting 3.3 million followers, announced the $Jenner token on pump.fun.
• Hacking Concerns: That same night, rumors spread about a possible hack, further amplified by GCR’s Twitter account being compromised.
• Developer’s History: It was uncovered that the wallet address linked to JENNER had a notorious past, previously involved in hacking the account of adult content creator Kazumi, who had promoted another token, ZUMI, days before.

Despite these revelations, Jenner’s account continued to promote the token. The developer behind this scheme had previously orchestrated five successful rug pulls, all endorsed by various influencers.

In a surprising turn of events, the JENNER token experienced a staggering 28,000% increase in just one day. Data from DEX Screener indicates that JENNER now boasts a market capitalization of $18 million, marking a significant, albeit controversial, milestone in its brief existence.

This incident mirrors another reported by crypto.news, involving the URF meme coin, where the team executed a rug pull, disappearing with 2,400 SOL obtained during the coin’s presale. On-chain researcher ZachXBT revealed that the team behind the meme token on the Solana blockchain withdrew approximately $450,000 worth of Solana (SOL).

As the crypto world grapples with these revelations, the saga of the JENNER token serves as a stark reminder of the risks inherent in the rapidly evolving digital currency market.