According to Cointelegraph, METALLICA‘s official account on X (formerly Twitter) was compromised. The hackers used this breach to advertise a fake cryptocurrency on the Solana blockchain called METAL.
METALLICA‘s team quickly recovered control of the account and removed all posts related to the token. The scammers falsely claimed the token was created in partnership with Ticketmaster. However, Ticketmaster has not confirmed any such partnership and hasn’t responded to inquiries for comment.
“Get ready for the takeover,” reads the first post. “Tap into $METAL, a dynamic new token on the Solana blockchain poised to revolutionize how you experience events and shop online. In collaboration with @Ticketmaster.”
Despite being a scam, the METAL token saw a surge in value. It reached a high of $3.37 million around 20 minutes after launch. However, that spike was short-lived. Within three hours, the token’s value crashed to a mere $90,000.
Reeder, the visionary behind Metal Addicts, has transformed his lifelong passion for metal into a thriving online community for metal aficionados. As a fervent devotee of black metal, Reeder is captivated by its dark, atmospheric, and often unorthodox soundscapes.