Ye Says Instagram Hack Linked Him To Fake Coin

Ye is pushing into new territory with digital currency, but his rollout has already been hit with drama. The rapper announced earlier this month that his latest project, YZY Money, is officially live on the Solana blockchain. Just days later, he told fans that hackers had broken into his Instagram account and linked him to a coin that he says is fake. “My Instagram has been hacked and it’s following a fake coin,” he wrote on X. “The official project is @YZY_MNY.”

Visitors to Ye’s Instagram quickly noticed that he only follows two accounts. One belongs to his wife, Bianca Censori, while the other is listed as Yeezy Token. Ye claims that the token account was set up by hackers and does not represent his work. Despite having fewer than a thousand followers and just a single post, the page has been flooded with comments from fans warning others that it is not connected to him.

The official YZY Money launch came on August 20th, when Ye revealed it to the world with a post that read, “Yeezy money is here. A new economy, built on chain.” The currency exploded in its first week, with CoinGecko data cited by Forbes showing that it reached a market cap of three billion dollars before slipping to one and a half billion. Even with the decline, the numbers reflect major interest from investors and fans alike.

On its website, YZY Money is described as more than just another cryptocurrency. It is presented as a philosophy aimed at shifting power to individuals. “YZY MONEY IS A CONCEPT TO PUT YOU IN CONTROL, FREE FROM CENTRALIZED AUTHORITY,” a statement reads. “YZY IS THE CURRENCY THAT POWERS ALL TRANSACTIONS WITHIN YZY MONEY.”

Ye is now focused on separating his real project from copycats while establishing YZY Money as his latest cultural statement.