Kanye ‘Ye’ West Disavows YZY Token, Claims Instagram Was Hacked
Key Takeaways:
- Kanye West posted a disclaimer on X disowning the primary YZY token, claiming his Instagram was hacked.
- The unique token’s deployer offloaded giant quantities earlier than the crash, inflicting over $24 million in misplaced liquidity.
- Authorized accountability for superstar crypto promotions is murky when endorsements happen with out formal declarations or disclosures.
Kanye West has denied involvement in a just lately launched YZY-themed memecoin that surged and crashed earlier this month, stating his Instagram account was compromised.
The declare was posted on West’s X (previously generally known as Twitter) on August 26, through which he wrote: “My Instagram has been hacked and it’s following a faux coin…The official challenge is @YZY_MNY.”
He went on to advertise a distinct challenge, accompanied by a brand new Solana pockets handle.
Kanye West Claims Instagram Account ‘Hacked’
The primary YZY token, which launched days earlier, had seen buying and selling volumes spike earlier than a serious sell-off drained over $24 million in liquidity.
Blockchain knowledge from platforms like Birdeye and DEX Screener confirmed that pockets addresses related to the deployer offloaded giant parts of the availability shortly after launch.
West’s new submit means that the sooner coin was unauthorized, and that he’s solely endorsing the one tied to the updated address and Instagram deal with.
No additional particulars had been supplied on how the alleged compromise occurred or who could have been behind the unique launch. Meta, the mother or father firm of Instagram, has not issued a public touch upon the declare.
A number of influencers and promoters had pushed the sooner YZY token throughout social media within the days earlier than and after the preliminary buying and selling frenzy. Some have since deleted their posts.The unique token is at present buying and selling at close to $0.
West’s staff has not launched a proper assertion past the X submit.
Group Specific Mistrust
The group has demonstrated a degree of disbelief within the assertion. Autism Capital posted on X following Ye’s clarification, saying, “Kanye West claims his IG was ‘hacked’ and was selling a faux coin a number of days AFTER all of the dumping was achieved of his authentic coin. He then marketed a NEW coin saying ‘that is the true coin.’”
Kanye West claims his IG was “hacked” and was selling a faux coin a number of days AFTER all of the dumping was achieved of his authentic coin. He then marketed a NEW coin saying “that is the true coin.” Haven’t we seen this playbook earlier than? The grifting by no means ends. pic.twitter.com/XmNPIPJnpK
— Autism Capital
(@AutismCapital) August 26, 2025
“Haven’t we seen this playbook earlier than? The grifting by no means ends,” they mentioned.
The state of affairs provides to a rising variety of celebrity-linked crypto controversies in 2024 and 2025, elevating ongoing questions on how memecoins are launched, endorsed, and bought throughout platforms with restricted oversight.
Often Requested Questions (FAQs)
It relies on proof of consent or participation. If the promotion occurred by way of his verified account, civil claims might nonetheless come up.
Typically by way of coordination with promoters or influencers. Typically the superstar is immediately concerned, different instances not.
Confirm pockets hyperlinks by way of official press releases or firm filings. Social media alone isn’t a dependable affirmation technique.
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