Heavy metal legends Metallica became the unfortunate victim of a crypto scam this week. Hackers took over the band’s official X (formerly Twitter) account to promote a newly launched Solana token called METAL. The bad actors had promised fans exclusive perks like “free concert tickets” and staking rewards. They also put out false claims of partnerships with both Ticketmaster and fintech company MoonPay. However, the whole scheme quickly escalated when the hackers were made out.
Metallica’s team, meanwhile, has managed to regain control of the account. The team immediately swung into action and deleted all posts related to the scam token.
Furthermore, Ticketmaster and MoonPay have since denied any involvement with the token. MoonPay even added a humorous line referencing Metallica’s hit song “Master of Puppets” to warn fans about the scam. The post reads:
“If someone is offering you a METAL token, they are not the master of puppets — they’re the master of scams!”
Metallica X Account Hack Signals Rising Cases of Crypto Scams
The METAL token itself, launched on the Solana-based platform pump.fun, saw a brief surge in value shortly after the Metallica post. However, the price surge would not last long, dropping to a market capitalization of a mere $90,000 within a few hours.
Notably, this incident highlights the ever-increasing threat of crypto scams and how they continue to target unsuspecting users. Hackers often exploit social media accounts of prominent individuals who have a very large following. Once they gain access to these accounts, they use them to spread misinformation and lure victims into investing in dubious projects.
The incident has once again shown the need for fans and crypto enthusiasts alike to always exercise patience and conduct thorough research before investing in any cryptocurrency. Especially those promoted through celebrity accounts or other unusual channels.
As of publication, details about the hackers who breached Metallica’s account have not yet been uncovered. The band itself is yet to issue an official statement regarding the situation.
