Gunna is being accused of being involved in a cryptocurrency fraud on social media.
Gunna announced the creation of his own cryptocurrency, PushinPETH, on Monday (Jan. 31). He wrote, “Ay @pushinpeth making a crypto metaverse for us!” he wrote. “@shanemooncharts backing the project, I know this is gonna fly. IM TAKING THIS TO THE MOON JOIN THE TELEGRAM HERE.”
The tweet, as well as the PushinPETH account, have since been removed.
Although his Twitter account has remained active, it is unknown who @shanemooncharts is.
The currency’s moniker is a reference to Wunna’s Young Thug and Future-assisted hit “Pushin P” off his current album, DS4EVER.
The coin is described on the PushinPeth website as “a cryptocurrency that works for you, helps you increase your holdings over time. We offer complete transparency and the latest security to all our holders. Additionally, the liquidity is locked on unicrypt and the ownership of the contract is renounced.” The site is currently live as well.
The rapper from Atlanta has been accused of rug pulling. A rug pull is a financial term that refers to when the initial price of an asset, such as a cryptocurrency, is pushed up after it goes live, and then the creators quickly withdraw their investments. As a result, the cryptocurrency’s price is closes to zero, essentially making it worthless.
On Wednesday morning, Twitter user and self-proclaimed “on-chain sleuth” @zachxbt was the first to shed light on the situation: “Nice scam @1Gunna Gunna didn’t even last 8 hrs,” they tweeted.
A screenshot of PushinP crypto’s performance on TradingView was included in the message, demonstrating how it received an influx of liquidity—or how easily cryptocurrency can be converted into cash—when it first went live, but then quickly declined in value. This is a sign of a possible rug pull.
Many others have since expressed their displeasure with Gunna and his cryptocurrency on Twitter. See how they reacted below.
