Metallica’s X account hacked to pump $METAL token

In this post:

  • Hackers breached the famous heavy metal band Metallica’s official X account to promote a fraudulent token, $METAL.
  • The tweet suggested that METAL had collaborated with MoonPay to ease the purchase of the token using credit and debit cards.
  • This incident adds to the string of celebrity accounts hacked this year to promote pump-and-dump schemes.

Famous heavy metal band, Metallica, has been the latest victim of an X account breach. Late Tuesday, hackers used the band’s account to advertise a fraudulent Solana token, $METAL. Although Metallica later recovered the account and deleted the promotional tweets, some users were caught in the scam and lost their SOL tokens.

Also read: Rapper 50 Cent’s Twitter hacked to hype the GUNIT token

Despite being one of the most high-profile X hacks this year, Metallica has yet to release a statement about the incident. Approximately 20 minutes after the posts were put up, $METAL’s market cap rose to over $3 million. After multiple accounts reported the hack, the token’s value plummeted by almost 100%, and its total market cap dropped below $90K.

Hackers suggest collaborations with Ticketmaster and MoonPay on Metallica’s X account

The first post following the hack introduced $METAL as a token on Solana that would change how fans interact with Metallica events and online shopping. It suggested a collaboration with Ticketmaster, promising exclusive discounts on ticket sales. The tweet claimed that fans could get up to 25% discounts if they bought tickets using $METAL.

The tweet highlighted the benefits of the Solana blockchain to $METAL holders. The hackers pointed out the blockchain’s capabilities in streamlining transactions, including buying $METAL, making purchases, earning, and more. Users could also expect widespread adoption of the $METAL token on Solana, they added.

The hackers posted another tweet, suggesting a partnership with MoonPay to help users buy $METAL with credit and debit cards. MoonPay came out soon after to clear the air, insisting it didn’t support the $METAL token. 

The hackers used several other tweets to get Metallica’s followers to buy $METAL. One suggested a limited edition Xbox Series X console signed by all Metallica members. More false claims included providing users with staking rewards, custom merchandise, and free concert tickets.

Other high-profile X accounts suffer similar attacks

Rapper Curtis James Jackson, aka 50 Cent, made his followers aware of a similar attack on his X account on June 21. The pump-and-dump scheme targeted his followers to invest in another token called $GUNIT. Similar to what happened in the Metallica case, the token price skyrocketed, and the hackers profited an estimated $300 million during the hack. 

 Also read: Blockchain security firm warns TON users about phishing attacks

In February this year, Microstrategy’s X account was also hacked, leading to over $400,000 in crypto losses. The hackers claimed the launch of $MSTR, a new Ethereum token backed by Microstrategy’s BTC reserves. 

In March, PeckShield, a blockchain security company, reported that Beoble, a web3 chat solutions provider, had its X account breached by phishing hackers. PeckShield requested users not to click on links provided in the post. 

Beoble later created a temporary account to confirm the incident and asked its followers not to interact with posts from its official account. Other reports have confirmed that users lost nearly $47 million through the attack.

Cryptopolitan reporting by Collins J. Okoth

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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