Prominent media personality Caitlyn Jenner recently fell victim to a cryptocurrency exit scam involving a meme coin named JENNER. The scam unfolded when Jenner’s X account, manipulated by a middleman named Sahil, promoted the token. The promotion included a tweet with a photo of Jenner and former President Donald Trump, along with a link to the meme coin. The tweet captioned, “Let’s all win together!! Send me some of your favorite memecoins here,” sparked significant interest and investment.
Following the token’s launch on pump.fun, a Solana-based platform for meme coins, the developer sold all their holdings, leading to a sharp decline in the token’s value. This caused widespread concern among investors, initially mitigated by assurances from Jenner’s manager, Sophia. Despite these reassurances, the token experienced a brief surge, reaching a market cap of $20 million before plummeting.
It was discovered that the wallet address linked to the JENNER token had been previously involved in another scam where the account of adult content creator Kazumi was hacked. The developer behind the JENNER token had a history of running successful rug pulls, often promoted by influencers. Despite the scam, the token experienced an astonishing 28,000% surge in one day, reaching a market capitalization of $18 million before the market corrected itself. The incident highlights the ongoing risks and vulnerabilities in the cryptocurrency market, emphasizing the need for caution and due diligence.
