Most of Kanye West's recent ventures music or otherwise have sadly not been going well. Unfortunately, that also includes his newly launched cryptocurrency, YZY Money. The Chicago visionary entered the game earlier this month on August 20.
But part of the reason why it's not going as planned is because of a social media hack. The rapper announced this on his X account this morning. "My Instagram has been hacked and it’s following a fake coin," the post reads as caught by Billboard.
In the time since this PSA Kanye has unfollowed the fake IG account that's portraying the real YZY Money page. The troll's handle on the platform is yzytkn and at the time of writing, it's got just under 1,000 followers. There's a post with a fraudulent QR code and the comments are filled with users warning others that it's fake.
Weirdly, though, on our end, nothing shows up in the replies section. There are other fake handles out there such as yzymny. The authentic account goes by yzy_mny and possesses over 5,000 followers. Moreover, it's following Kanye West back, has no posts, and has a link to the YZY Money website.
For X users, the mogul says, "The official project is @YZY_MNY."
Kanye West Coin
Hopefully, things can get back to normal soon for Ye as we mentioned how rough the takeoff has been for him. After joining the Solana blockchain last week, the controversial artist's meme coin has seen a steady decrease in value.
It was at an impressive $3 billion, then lowered to around $1.5 billion, and eventually dropped to just $349 million. The volatility continued in for the coin's cost too as it was worth over $3.00 but then plummeted to $0.91.
There are even more internal things about YZY Money and the overall initiative in general that has investors uncertain on whether to pull the trigger on it or not. Ye Pay and the YZY Card are also parts of this.
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