Crypto Scam Token Rakes in $10M, Metallica’s Twitter Hijacked
The tweets included a Twitter Spaces audio call and replies to users, suggesting a collaboration with Ticketmaster and crypto payments platform MoonPay. They claimed that the METAL token could be used for discounts on tickets and merchandise
On Tuesday late, the Twitter account of the heavy metal band Metallica was hijacked. The hackers used it to promote a Solana meme coin, continuing a troubling trend of celebrities' accounts being exploited for pump-and-dump schemes. The METAL token, touted by the hackers, saw a fleeting surge in trading volume before crashing.
The tweets included a Twitter Spaces audio call and replies to users, suggesting a collaboration with Ticketmaster and crypto payments platform MoonPay. They claimed that the METAL token could be used for discounts on tickets and merchandise. However, these tweets were swiftly deleted within 90 minutes, but not before the token experienced over $10 million in trading volume.
Crypto Twitter quickly recognized the scam. MoonPay's President, Keith Grossman, stated that METAL was not supported on their platform. The scammers responded, claiming communication with MoonPay via email. MoonPay then issued a direct warning, cleverly referencing Metallica's famous song, "Master of Puppets," saying that those offering the METAL token were "the master of scams."
In the brief window of activity, the METAL token's price spiked to $0.003 before plummeting to under $0.00007. Its market cap now sits at a mere $65,000.
