Kanye West Denies Involvement in YZY Token Scam After Instagram Hack

Kanye West has distanced himself from a fraudulent YZY token promoted via his hacked Instagram account, which briefly surged to a $7 million market cap before collapsing. The rapper claims the official YZY token—separate from the scam—has faced an 81% decline since launch, fueling skepticism about celebrity-endorsed cryptocurrencies.

The fake token, launched on Pump.fun, capitalized on West's compromised social media presence. Its rapid rise and fall mirror broader concerns around meme coin volatility and manipulation. Celebrity-backed tokens continue to face scrutiny as investors question their long-term viability amid rampant speculation.

West took to X (formerly Twitter) on August 26, 2025, to clarify his account breach. The incident underscores recurring security risks in crypto promotion, where influencer accounts frequently become vectors for pump-and-dump schemes.