Metallica’s Official X Account Hacked to Promote Scam Solana Token ‘METAL’
In a surprising turn of events, the official X (formerly Twitter) account of legendary heavy metal band Metallica was hacked on June 26, 2024. Exploiters took control of the account to promote a fraudulent Solana token known as METAL, causing significant confusion and financial loss among fans and followers.
The Breach and Its Immediate Impact
The hackers behind the breach wasted no time in using Metallica’s widespread influence to push the scam token. The first suspicious post from Metallica’s X account claimed that the METAL token was launched in partnership with Ticketmaster, a well-known ticket sales and distribution company. The token was reportedly deployed on the Solana-based platform pump.fun.
This announcement quickly caught the attention of Metallica’s massive online following, who were led to believe that the token had legitimate backing. However, Ticketmaster did not release any statement confirming such a partnership and did not respond immediately to requests for comment, further casting doubt on the legitimacy of the claims.
False Associations and Public Reactions
Adding to the fraudulent narrative, the hackers falsely claimed that fintech firm MoonPay was involved with the METAL token. MoonPay’s president, Keith Grossman, promptly addressed this misinformation. In a post on X, Grossman firmly stated, “MoonPay does NOT support METAL.” Following this, MoonPay humorously condemned the scam with a post saying, “If someone is offering you a METAL token, they are not the master of puppets — they’re the master of scams!” This clever reference to Metallica’s iconic 1986 album and single, “Master of Puppets,” aimed to alert fans about the fraudulent nature of the token.
The Token’s Brief Surge and Swift Collapse
In an attempt to lure potential buyers, the hackers posted a series of messages from Metallica’s account, claiming that METAL token holders could redeem exclusive items such as free concert tickets, custom gaming consoles, and other band merchandise. This tactic momentarily succeeded, as the total value of the METAL token soared to $3.37 million within approximately 20 minutes of its launch, according to data from Dexscreener.
However, this peak was short-lived. Less than three hours after reaching its high, the market capitalization of the METAL token plummeted to $90,000, with its price dropping nearly 100% from its peak value. This rapid decline underscored the token’s fraudulent nature and left many investors with substantial losses.
Restoring Control and Ongoing Investigation
Metallica’s team acted quickly to regain control of their X account. They deleted all posts related to the METAL token and began working to reassure their followers. Despite these efforts, the incident has raised questions about the security measures in place to protect high-profile accounts on social media platforms.
As of now, it remains unclear how the hackers managed to breach Metallica’s account. The band and its management team have not yet provided any detailed comments on the breach. This incident highlights the vulnerability of even the most well-protected accounts to cyber-attacks and the need for enhanced security protocols.
Lessons Learned and Future Precautions
The hacking of Metallica’s X account serves as a stark reminder of the risks associated with online scams and the importance of skepticism in the digital age. For fans and followers, this incident emphasizes the need to verify the authenticity of such announcements directly through official channels and not to act on information from potentially compromised sources.
For companies and high-profile individuals, this breach underscores the necessity of implementing robust security measures, including multi-factor authentication, regular security audits, and immediate response strategies to mitigate the impact of potential hacks.
Conclusion
The hacking of Metallica’s X account to promote the fraudulent METAL token is a troubling example of how cybercriminals can exploit the trust and reputation of well-known entities to further their schemes. As the investigation into the breach continues, it is crucial for all stakeholders in the digital ecosystem to remain vigilant and take proactive steps to protect their online identities and assets.
