Caitlyn JENNER's Alleged Token Sparks Debate Following Account Hacking Claims

• The JENNER token, a purported coin of celebrity Caitlyn Jenner, took the crypto market by storm on Monday.
• JENNER has already exceeded a quarter of a billion in transaction volume.
• Controversies continue to intensify with speculation that Caitlyn Jenner's account was hacked.

JENNER, a so-called crypto token based on Solana, sparked mixed feelings among the crypto community on Monday after attracting the attention of investors and reaching a trading volume of over $250 million in just a few hours.

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JENNER Token Launch

Celebrity Caitlyn Jenner's X account announced on Monday the launch of a JENNER token based on Pump.fun Solana. Since its launch, the JENNER token has continued to raise questions from crypto enthusiasts about its authenticity.

Within hours of its launch, the token reached a trading volume of $100 million. At the time of writing, according to GeckoTerminal data, it has already accumulated over a quarter of a billion trading volumes across different token pairs.

Amid the buzz, controversies emerged as allegations suggested Caitlyn Jenner's account had been hacked, adding to the skepticism surrounding the legitimacy of the JENNER token.

Over the past few days, several celebrity accounts have been hacked, with hackers impersonating them to obtain different tokens. The most recent of these cyberattacks involves the CAT token, which crashed by almost 70% in the last 24 hours.

Similarly, Caitlyn Jenner's X account was suspected of a cyberattack, but a video was published in which Jenner and her manager talk about the authenticity of the JENNER token.

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“I wasn't hacked. My manager just joined the community space and answered all of the attendees' questions, while I was playing golf. We're sending this coin to the moon!” » Caitlyn said on X.

However, the crypto community remains divided on the issue, with some expressing doubts about the sustainability of memecoins associated with celebrities and the potential risks involved.

One user said: “When will people learn that coins like $CAT and $JENNER do NOT last.”

Another user posted:

“As if celebrities don't already have enough millions to have to jump on every crypto bandwagon to scam more money, huh? Y'all sucked the life out of NFTs, now come back to suck the life out of memecoins.”

Amid the ongoing debate, Caitlyn Jenner's X account announced plans to move the JENNER token to the Ethereum network after its initial launch on the Solana network, adding another layer of complexity to the situation.

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Others pointed out that the celebrity's account had posted with unusual frequency since the token's launch, making it suspicious.

This adds to the uncertainty of investing in meme coins and the dangers that follow them. Bad actors often exploit these tokens to run scams, including pump and dump schemes, rug pulls, and more.