“Pump and dumping your fans?”- Netizens react to Kanye West claiming his Instagram account was hacked and is following a fake cryptocurrency handle

Kanye West (Ye) said his Instagram account was hacked after it was seen following a fake page about his new YZY cryptocurrency. On August 20, 2025, he launched the YZY coin on Solana, along with Ye Pay and the YZY Card. But on August 26, he announced the hack on Instagram.

He wrote on X:

"My Instagram has been hacked and it’s following a fake coin. The official project is @YZY_MNY. DrZ26cKJDksVRWib3DWsjo9 eeXccc7hKhDJviiYEEZY"

Kanye West's tweet (Image credits: X/@kanyewest)

As per Billboard, Kanye West's Instagram account was following two people earlier in the day: Bianca Censori and a handle named @yzytkn. The latter is a fake account about the YZY coin. It has one post with a QR code and comments from fans pointing out that it is a fake account.

The real account goes by the handle @yzy_mny and has around 5000 followers and a link to the yzymoney website, and has no posts.

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More about Kanye West's YZY coin as it plummets in value

67th Annual GRAMMY Awards - Arrivals (Image Source: Getty)

YZY coin is a cryptocurrency coin that works on Meteora on Solana. As per Crypto Briefing, the team behind the coin has taken many steps to ensure safety for investors. To avoid sniping, they have introduced 25 addresses, with only one of them being the coin. The website explained:

“This dissuades snipers by making it a 1/25 chance for selection of the right CA, putting power back into the hands of real traders."

Its vesting schedule used Jupiter lock and has been distributed into public allocation (20%), liquidity (10%), and vested tranches for Yeezy Investments LLC (70%). As per Coin Gecko (via Forbes), the YZY coin hit $3 billion in the market after its release, but dropped sharply to $1.5 billion.

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Kanye West had previously spoken about being impressed with people riding on the cryptocurrency wave

Ye had previously spoken about getting into the cryptocurrency world in an interview with Joe Rogan in 2020, saying:

“These guys really have a perspective on what the true liberation of America and humanity will be. A lot of the tech guys, but specifically [Bitcoin] guys were able to use the new highways, the new information highways, and create the next frontier of our existence while the powers of our political system are still anchoring on the electoral college, which was based around slavery.”

However, the rapper isn't limited to just releasing a cryptocurrency coin. On August 20, he also announced the launch of his blockchain ecosystem, which comprises YZY Money, YZY card, and Ye Pay.

Ye Pay is designed to make using cryptocurrency easy for online payments. According to its website, it charges 3.5% less than standard fees and works on millions of websites, letting users pay with either crypto or a regular credit card.

The YZY Card lets people spend their crypto directly without converting it into regular money, unlike normal cards.

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