.jpg)
- Solana’s popularity among celebrities leads to endorsements and risks of piracy.
- Despite the controversies, Solana is showing upward trends.
Solana [SOL] It is creating buzz as the blockchain of choice for celebrities eager to launch their own meme coins. However, this newfound fame also comes with a dark side.
While some stars willingly join the Solana memecoin craze, others find their accounts hacked and used to promote various coins.
Metallica’s Cryptocurrency Mistake
The official X account of heavy metal band Metallica has been hacked.
On June 26, the Metallica
Source: Metallica/X
The hackers posted a fraudulent ad claiming to partner with Ticketmaster to launch the token, which was actually created on the Solana-based Pump.fun platform.
After investigation, it became clear that Ticketmaster had not made any such announcement about the partnership. Metallica has since regained control of the account and removed all posts related to the token.
Additionally, while hunting for scalpers, Metallica’s account also accused fintech company MoonPay of being involved in the token.
However, MoonPay CEO, Keith GrossmanHe responded to these accusations on X and stated,
“Please be careful. MoonPay does not support $METAL on Solana.
Expanding on the topic that MoonPay also mentioned,
Source: Moon Bay/X
Later in the day, Metallica went a step further and banned MoonPay’s official account.
Source: Moon Bay/X
Metallica is not the only one!
Well, this isn’t the first time something like this has happened.
Earlier in the month, another SOL memecoin appeared Hulkamania [HULK] The company saw a massive $15 million drop in market cap after a rapid pump-and-dump on June 6, all in just two hours.
This incident coincided with allegations that WWE icon Hulk Hogan endorsed the currency on social media, an accusation that Hogan, also known as Terry Gene Bollea, later denied.
Solana memecoins remain unaffected
Interestingly, this incident did not affect the market capitalization of the Solana memecoin. At the time of writing, the Solana memecoin’s market cap stands at $6.71 billion, reflecting a 10.1% increase over the past 24 hours.
Meanwhile, other Solana memes associated with celebrities such as Jason Derulo’s JASON and Iggy Azalea’s MOTHER showed bullish sentiment.
according to Queen GekkoJASON stock is up a whopping 85%, while MOTHER stock has seen a remarkable 29% rise in the past 24 hours.
