Prominent media figure Caitlyn Jenner has reportedly fallen victim to a cryptocurrency exit scam involving a meme coin named JENNER. The coin experienced a dramatic plunge in value shortly after its launch, following Jenner’s public endorsement.
The incident has sparked significant reactions within the crypto community, with many initially speculating that Jenner’s account had been hacked. However, crypto community figure Roxo clarified that Jenner’s account was not hacked but manipulated by a middleman named Sahil.
The endorsement, posted from Jenner’s X account, featured a photo of Jenner alongside former U.S. President and Republican candidate Donald Trump. The tweet, shared on a Sunday afternoon, included a link to the meme token and the caption, “Let’s all win together!! Send me some of your favorite memecoins here.”
Following the token’s launch, the developer sold all their holdings, leading to widespread concerns among investors. X user @0xPonga reported that the token, which launched on pump.fun—a Solana-based platform for creating and trading meme coins—briefly reached a $20 million market cap after concerns of it being a rug pull were addressed by Jenner’s manager, Sophia.
Further investigations revealed that the wallet address associated with the JENNER token had been previously linked to a similar incident involving adult content creator Kazumi. Days prior, Kazumi’s account had been hacked to promote another token named ZUMI.
Despite the controversy, Jenner’s X account continued to actively promote the token. The developer behind the social engineering scheme has a history of executing rug pulls promoted by various influencers.
Amidst the turmoil, the JENNER token saw an astonishing 28,000% surge within a single day. Data from DEX Screener indicated that JENNER had reached a market capitalization of $18 million, marking a notable milestone in its tumultuous journey.
This incident mirrors a similar scam reported by crypto.news, involving the URF meme coin. In that case, the team executed a rug pull and vanished with 2,400 SOL obtained during the coin’s presale. On-chain researcher ZachXBT reported that the team behind the URF token on the Solana blockchain withdrew approximately $450,000 worth of Solana (SOL).
Caitlyn Jenner’s involvement in the JENNER coin scam highlights the ongoing risks within the cryptocurrency market, particularly involving social engineering and the exploitation of public figures for fraudulent schemes.
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