The renowned heavy metal rock band Metallica was recently hacked by crypto scammers who took over their X account to promote a Solana-based token called "METAL." However, the famed band is not affiliated with the coin, and it was later confirmed that it was a bogus cryptocurrency launched by unknown threat actors.
That being said, the crypto hackers were able to become the master of puppets for a brief time, as they were able to pull the strings of some who believed it and saw a massive rise before its eventual crash.
Metallica X Account Hacked to Promote SOL-based 'METAL'
A report from CoinTelegraph spotted a post from Metallica's X account, which promotes a new Solana-based token called 'METAL' on their account, and it was regarded as a scam that used the band's name to gain popularity. This elaborate scheme saw various posts on Metallica's X account, which peaked at $3.37 million during that time.
(Photo : Monica Schipper/Getty Images)
In the various posts made by the bad actors, it claimed that it was in collaboration with Ticketmaster and MoonPay, an international crypto exchange platform.
Apart from earning the tokens, the hackers staked several rewards, including a signed custom Xbox Series X and matching decals for the console and controller.
Crypto Scammers Attack, Metallica Has No Affiliations
That said, MoonPay President Keith Grossman clarified that they are not supporting the 'METAL' Token on the SOL blockchain and warned users to be careful of it. Metallica's official X account also reposted this statement from Grossman, denying their affiliation with the crypto.
The posts made on Metallica's account are now deleted, but the band has not yet made any official statements. Moreover, three hours later, the coin also dropped to $90,000.
Crypto Scams Involving Famed Personalities
In the world of cryptocurrency, there have been many occasions where famed personalities promoted the coins, but it is not every time that these are legitimate, as many of those are scams. One scammers' most commonly used identities is renowned tech billionaire and crypto enthusiast Elon Musk, ranging from Tesla to one of the latest centered on the fake Neuralink token.
Despite the many times that these coins were proven fake and immediately shut down, this did not stop scammers from creating new ones centered on elaborate schemes to steal from the public. Earlier this month, the legendary wrestler Hulk Hogan denied his affiliation with a scam meme coin called $HULK, asking users to avoid it and steer clear of the crypto.
Not many of these tokens last long in the market, as many personalities whose names have been dragged by these scammers have shut down their legitimacy and denied their connections to it. Now, another famous name in the music industry was used, with the scammers going as far as hacking Metallica's X account to promote the coin, which now plummeted as it was found to be a scam.
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