Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Nearly a month after Caitlyn Jenner launched her JENNER token, the celebrity memecoin frenzy continues. This time, iconic heavy metal band Metallica joined the list of public figures involved with Solana tokens. However, the band\u2019s participation in the crypto industry was yet another X account hack targeting investors. Related Reading: Will Bitcoin Have A \u2018Red Monday, Green Week\u2019? Analyst Sets $63,500 Target Solana-Based METAL Takes Over Crypto The iconic heavy metal band Metallica recently announced a collaboration with the popular videogame Fortnite. The collaboration seemingly aims to bring the band\u2019s music to a new demographic of music enjoyers. Nonetheless, the announcement was eclipsed by the Metallica X account\u2019s failed \u201cattempt\u201d to \u201cjoin\u201d a different community. On Tuesday night, the account shared a post offering a Solana-based token to their fans. The post announced the launch of METAL, an alleged collaboration between the band and Ticketmaster. The token was described as a \u201cdynamic new token on the Solana blockchain poised to revolutionize how you experience events and online shopping.\u201d Unlike other celebrity memecoin scams, the token offered utility from the get-go. Users who used METAL to buy concert tickets would receive exclusive Ticketmaster discounts of up to 25%. METAL holders would also get the chance to win free tickets through \u201cexclusive airdrops.\u201d The X posts announced three signed \u201cinsanely rare Metal Token Xbox Series X consoles\u201d for the token holders. Additionally, it promised the METAL token would \u201cseamlessly integrate into your shopping experience, powered by the reliability of Solana for effortless transactions.\u201d Master Of Tokens Or Master Of Nothing? Metallica fans and crypto investors quickly became wary of the posts. Users began debating whether the announcements were fake and if the account had been hacked. One X user suggested the band would not \u201cruin their reputation by launching a shitcoin\u201d and rugging it. Despite the user\u2019s initial suspicion, several users fell into the meticulously planned scam. As a community member pointed out, the graphics for the posts, and the posts themselves, were \u201cpretty well done.\u201d The attackers also assured users that METAL was not a scam and the band was \u201cin it for the long haul.\u201d The hacker also claimed that the crypto payment company MoonPay was collaborating with the band. However, the company quickly denied their involvement, stating that the responsible for the hack was not the master of puppets but the \u201cmaster of scams.\u201d As an X user pointed out, the Solana-based token\u2019s market capitalization surpassed $2 million. However, it quickly plummeted after the band recovered access to the X account and deleted the promotional posts. Related Reading: Fact Or Fantasy? Decoding The Bitcoin Rainbow Chart\u2019s $250,000 Prediction Nonetheless, one investor managed to become a master of tokens. Online reports revealed that a trader turned a $3.380 investment into $24,600. The \u201clucky\u201d investor bought the tokens at a $50,000 market cap and sold at the high of the scam. As of this writing, the token is trading at $0.00002031, a 99.3% decrease from its highest price of $0.003353. Furthermore, METAL\u2019s market cap is $20,000, representing a 9000% drop. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":626532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[92466,92514,12029,14186,85699,16474,92655,5658,12837,83626,87684,92653,92654,83627],"class_list":["post-626530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-celebrity-memecoins","tag-celebrity-tokens","tag-crypto-hack","tag-crypto-scam","tag-memecoin","tag-metal","tag-metallica","tag-pump-and-dump","tag-sol","tag-solana","tag-solana-memecoin","tag-solana-token","tag-solana-based-token","tag-solusdt"],"acf":[],"yoast_head":"\n
Master Of Scams: Metallica\u2019s X Account Promotes Solana Token<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n