The cryptocurrency business has managed to lure in a number of corporations and distinguished figures throughout the globe. Over the previous couple of years, the market has seen a plethora of them enter the cryptocurrency scene. Whereas some have carried out it willingly, a number of others have been pushed into it with out selection. Extra not too long ago, Metallica, a heavy metallic band made headlines within the business after its X account received hacked
The ill-doers marketed a pretend Solana-based meme coin with the METAL ticker by way of Metallica’s X account. The asset was being pushed as a “dynamic new token.” The account with 6.1 million followers claimed that Ticketmaster labored with them to create the token. However Ticketmaster didn’t make any announcement as such. But, the asset was rolled out on pump.enjoyable, a token deployer constructed on Solana.
The submit on Metallica’s hacked account even mentioned that MoonPay was additionally a part of the token. However the neighborhood had a greater understanding of issues after MoonPay president Keith Grossman affirmed, “MoonPay does NOT help METAL.” The agency even urged the neighborhood to remain alert and tweeted,
“If somebody is providing you a $METAL token, they aren’t the grasp of puppets – they’re the grasp of scams! Preserve your keys secure and journey the lightning responsibly!”
METAL’s Rise and Fall
Your entire charade lasted for 90 minutes, and the submit was quickly taken down. However the METAL token was thriving. The asset managed to see greater than $10 million in buying and selling quantity earlier than dipping. The asset’s market worth rose to a excessive of $3.37 million in simply 20 minutes after its launch. But it surely declined to a low of $90,000 inside three hours.
Metallica isn’t the one entity focused in a cryptocurrency-related rip-off preferred this one. Hulk Hogan, skilled wrestler, and rapper 50 Cent have been additionally victims of comparable hacks over the previous month.
