Metallica’s Official X Account Allegedly Hacked, Promotes Fake Solana Token
Late on Tuesday, hackers allegedly compromised Metallica’s official X account, formerly Twitter, and used it to endorse a dubious Solana meme coin named $METAL. This incident reflects a growing trend where hackers exploit high-profile accounts to promote pump-and-dump schemes disguised as legitimate crypto opportunities.
Incident Details
The compromised tweets included interactions in Twitter Spaces audio calls and with other users, all of which were removed within 90 minutes. Despite the quick removal, the scammers managed to generate over $10 million in trading volume for the fake $METAL token before its value crashed significantly.
False Claims and Reactions
The scammers falsely claimed a partnership with Ticketmaster and MoonPay, offering token holders discounts on tickets and merchandise. However, MoonPay President Keith Grossman promptly debunked the claims, stating that $METAL was not supported on their platform.
Immediate Response and Fallout
Metallica’s team quickly regained control of their X account and deleted all posts related to the $METAL token. To reassure their followers, Metallica’s X account retweeted MoonPay’s president’s tweet discrediting the fake Solana meme coin. Despite promises from the scammers of redeemable concert tickets and exclusive merchandise, the value of the $METAL token collapsed almost immediately after the scam was exposed.
Broader Implications
This incident highlights a broader trend where hackers target high-profile accounts to promote fraudulent tokens. Similar situations involving celebrities like Jason Derulo and controversies surrounding crypto promoter Sahil Arora have also emphasized the risks associated with such endorsements.
The Broader Trend Of Celebrity Tokens
This scam targeting Metallica is part of a broader trend where hackers exploit high-profile accounts to promote fraudulent tokens. For instance, pop icon Jason Derulo faced backlash after endorsing the meme coin JASON, which plummeted by over 72% shortly after its launch, causing significant losses for investors.
Despite attempts by Derulo to distance himself from the fallout by blaming Sahil Arora, a figure associated with previous crypto scandals, and pledging to invest more in the coin, influential figures such as SlumDOGE Millionaire and ZachXBT have criticized Derulo’s involvement. They questioned his awareness and intentions regarding the rapid devaluation of the coin.
This situation involving influencers is complex, with several celebrities recently launching legitimate tokens, often in collaboration with crypto promoter Sahil Arora. Arora has also been involved in controversial meme coin launches with other celebrities like Iggy Azalea and Caitlyn Jenner.
Notably, celebrities like Caitlyn Jenner and Rich The Kid, linked to Arora’s crypto ventures, have denounced his actions and are pursuing legal action against him.
The post Metallica’s X Account Hacked to Promote Fake Solana Token $METAL, MoonPay Warns appeared first on Cryptonews.
