The "social money" platform will also provide cybersecurity insurance of up to $30 million for Roll creators and users.
The founder of WHALE, a coin issued through the social token platform, confirmed the hack on Twitter.
The token was listed on social money platform Fyooz, where buyers, most likely fans of the rapper, bought $YACHTY for $15 each.
Personal token platform Roll is announcing the raise of $1 million from Fabric Ventures, IOSG, William Mougayar and others.
Ja Rule has inked a deal with Roll, an Ethereum-based protocol that allows content creators to control their own platforms using personal crypto tokens.