Metallica is the latest victim of this copy-paste scam, but join the 99BTC Learn2Earn revolution to avoid falling for these scams.
Heavy metal gods Metallica had its X account hacked yesterday (June 26), and the hackers subsequently used the account to promote a Solana meme coin.
This follows a recent trend of crypto scams whereby celebrities are targeted to share pump-and-dump scams, with Hulk Hogan another recent victim.
Metallica Scammers Slightly More Original Than Previous
The hackers’ original tweets included a Twitter Spaces audio call and many replies to other users promoting the scam METAL token.
All of the scammer’s content on Metallica’s account was deleted within 90 minutes. Even with such a speedy response to restore the band’s account, the METAL token saw over $10 million in trading volume before the inevitable crash.
$METAL gotta be the most meticulous scam we’ve seen
Not only did they have lots of posts that looked legit lined up, they also managed to keep buying flowing in after the initial dump by hosting a live and inviting influencers to co host
Hope you didn’t get burnt on $METAL pic.twitter.com/pVUpyePXDx
— DarnellJCL (@Dxrnelljcl) June 26, 2024
The scammers promoted the token by claiming Metallica was working with ticketing giant Ticketmaster and crypto payments platform MoonPay. Investors were told that holders could use the METAL token for discounts on tickets and merchandise.
MoonPay Move Quickly To Distance Themselves From The Scam
Given how often these copycat scams involve hacked celebrities, crypto Twitter quickly called out the tweets as fake, warning unsuspecting users that METAL was a scam.
After MoonPay was also dragged into this fiasco, its president Keith Grossman went public to denounce any affiliation between METAL and MoonPay.
Pls be careful.
MoonPay does NOT support $METAL on @solana. https://t.co/oEd5Pzmdn9
— Keith A. Grossman (@KeithGrossman) June 26, 2024
In hilarious and now-typical crypto fashion, the scammers then responded to Grossman. In a now-deleted post, they said, “We have been in touch with your team via email.” MoonPay then tweeted a direct warning users of the scam token.
The interaction ended with the hacked Metallica account blocking MoonPay.
In its short life span, the METAL token processed over 30,000 transactions as its market cap hit $3 million at its peak. The token has since died completely, with its market cap sitting at $27,000.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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