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Nearly a month after Caitlyn Jenner launched her own JENNER coin, the celebrity craze continues. This time, the famous heavy metal band Metallica has joined the list of public figures participating in the Solana coins. However, the band’s involvement in the cryptocurrency industry was another X account hack targeting investors.
Solana-based miner dominates cryptocurrencies
The famous band Metallica recently announced its collaboration with the popular video game Fortnite. The collaboration appears to be aimed at bringing the band’s music to a new demographic of music lovers.
However, this announcement was overshadowed by the Metallica X account’s failed “attempt” to “join” a different community. On Tuesday night, the account shared a post featuring A.J Solana based token For their fans.
The post announced the launch of METAL, an alleged collaboration between the band and Ticketmaster. The token was described as “a new dynamic token on the Solana blockchain that is poised to revolutionize how events and online shopping are experienced.”
Unlike other celebrities memecoin TricksThe token provided utility from the beginning. Users who used 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 through an “exclusive airdrop.”
X Publications has announced three “insanely rare” signed Metal Token Xbox Series X consoles for token holders. Additionally, it promises that the METAL token will “seamlessly integrate into your shopping experience, backed by the reliability of Solana for easy transactions.”
Master of symbols or master of nothing?
Metallica fans and cryptocurrency investors quickly became wary of the posts. Users began discussing whether the ads were fake and whether the account had been hacked. One X user Proposal The band will not “destroy their reputation by launching and manipulating the shitcoin.”
Despite the user’s initial skepticism, many users fell for the elaborate scheme to cheat. As one community member noted, the graphics of the posts and the posts themselves were “pretty good.” The attackers also assured users that METAL is not a scam and that the band has been “in it for the long haul.”
The hacker also claimed that cryptocurrency payment company MoonPay was collaborating with the band. However, the company quickly to reject Their involvement, noting that the person responsible for the hack was not a puppet master but a “master of fraud.”
As user X pointed out, the market cap of the Solana-based token has exceeded $2 million. However, it quickly retracted after the band regained access to X’s account and deleted the promotional posts.
However, one investor managed to become a cryptocurrency expert. Online reports open That the trader turned a $3,380 investment into $24,600. The “lucky” investor bought the tokens with a market value of $50,000 and sold them at the highest price in the scam.
As of this writing, the token is trading at $0.00002031, down 99.3% from its all-time high of $0.003353. Furthermore, METAL’s market cap is $20,000, a 9,000% drop.
