Overview

• Ye posted on X that his Instagram was hacked and said it was following a fake coin account, directing users to the official @YZY_MNY handle on X.
• Reporters noted his Instagram briefly followed a small YZY TKN page before he unfollowed it, while a fake yzytkn account shared a fraudulent QR code and the authentic yzy_mny profile linked to the project site.
• The YZY token, launched last week on Solana, rocketed to a roughly $3 billion market cap before dropping sharply, with recent readings from trackers ranging from about $169 million to $349 million.
• The YZY website promotes a broader “new economy” concept that includes a debit card and a payments processor called Ye Pay, though the site provides limited detail and features standard crypto risk disclaimers and a class-action waiver.
• The launch followed Ye’s earlier statements that he would not create a coin because such projects prey on fans with hype.