The famous rock band Metallica’s social media account was recently compromised by hackers who promoted a cryptocurrency token associated with the band. The token, named METAL, was purportedly created on the Solana blockchain platform. Communications from the hacked account suggested that the band launched the token in association with Ticketmaster, but the authenticity of this partnership is still uncertain as Ticketmaster has yet to confirm it.
All pro-token posts were cleaned out once Metallica’s team reclaimed the account. Originally, the posts insinuated a collaboration with the fintech firm, MoonPay, a claim that MoonPay’s president Keith Grossman vehemently denied. Discrediting these claims, Grossman firmly asserted, “MoonPay does NOT support METAL” and warned followers about the scam, stating “If someone is offering you a METAL token, they are not the master of puppets — they’re the master of scams!”
In a suspected move to attract buyers, the hackers claimed that the METAL token could be used to avail exclusive benefits such as free concert tickets, branded merchandise, and even custom gaming consoles. It was also mentioned in one of the posts that the token would offer staking incentives.
According to Dexscreener data, the total value of the METAL token briefly soared to $3.37 million approximately 20 minutes after launch. The value, however, dropped dramatically within three hours, with the total worth falling down to only $90,000. It remains uncertain as to how the band’s account was hacked, and communication with Metallica and its management team has been unavailable for comments.