Master Of Scams: Stolen Metallica’s X Account Promotes Solana Token
Almost a month after Caitlyn Jenner launched her JENNER token, the celebrity memecoin frenzy continues. This time, the iconic heavy metal band Metallica joined the list of people involved with Solana tokens. However, the group’s involvement in the crypto industry was yet another X account aimed at investors.
Solana-Based METAL Takes On Crypto
Iconic heavy metal band Metallica recently announced a collaboration with the popular video game Fortnite. The collaboration seems to be aimed at bringing the band’s music to a new place for music lovers.
However, the announcement was overshadowed by the Metallica X account’s failed “attempt” to “join” a separate community. On Tuesday night, the account shared a post offering a Solana-based token to their followers.
The post announced the launch of METAL, allegedly a collaboration between the band and Ticketmaster. The token was described as “a new flexible token on the Solana blockchain ready to transform the way you experience events and purchases online.”
Unlike other celebrity memecoin scams, the token offers support from the get-go. Users who use METAL to purchase concert tickets will receive exclusive Ticketmaster discounts of up to 25%. METAL holders will also have a chance to win free tickets with “special flight drops.”
X Post announced three signed “Metal Token Xbox Series X rare consoles” for token holders. Additionally, it promised the METAL token will “seamlessly integrate into your shopping experience, powered by Solana’s trustworthiness for hassle-free transactions.”
King of Symbols or King of Nothing?
Metallica fans and crypto investors quickly took note of the post. Users started arguing about whether the announcements were fake and whether the account was hacked. One X user suggested that the group would not “damage their reputation by introducing shitcoin” and shut it down.
Despite the user’s initial suspicion, several users have fallen for a well-planned scam. As a community member pointed out, the post’s graphics, as well as the post itself, are “very well done.” The attackers also assured users that METAL was not a scam and that the band was “in it for the long haul.”
The hacker also claimed that crypto payment company MoonPay was working with the band. However, the company quickly denied their involvement, saying that the person responsible for the hack was not a puppet master but “a master fraudster.”
As user X pointed out, the market capitalization of the Solana-based token exceeded $2 million. However, it quickly went down after the band gained access to X’s account and removed the promotional posts.
Nevertheless, one investor managed to become the king of the tokens. Online reports revealed that the trader turned an investment of $3.380 into $24,600. A “lucky” investor bought tokens at $50,000 market cap and sold at the top of the scam.
As of this writing, the token is trading at $0.00002031, a 99.3% drop from its high of $0.003353. Furthermore, the METAL market is $20,000, representing a 9000% decrease.
