Hackers Promote Scam Token $METAL After Taking Over Metallica's X Account

Metallica's X account was hacked on Wednesday, and the hackers promoted a token called $METAL to its 6.1 million followers.

Hackers promoted a token called $METAL to Metallica’s 6.1 million X followers on Wednesday after gaining access to the band's account. The posts made various claims about the token, including partnerships with Ticketmaster and MoonPay.

Posts also claimed that token holders would receive discounted tickets to Metallica shows and merchandise, with lucky airdrop winners apparently set to receive free tickets and merchandise. One post even stated that three $METAL holders would receive Metallica-themed gaming consoles, of which only three were created. Metallica's team has since regained control of the X account and removed all posts about $METAL.

“$METAL opens doors to executive discounts—imagine snagging 25% off ticket purchases just by using $METAL at checkout!” read one post. “Whether you’re at a Metallica concert or browsing the online store, $METAL seamlessly integrates into your shopping experience, powered by the reliability of Solana for effortless transactions.” The token was launched on Solana via the pump.fun deployer.

Ticketmaster is yet to respond. However, MoonPay President Keith A Grossman took to X to warn everyone 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!” For those unaware, Grossman referenced the heavy metal band's 1986 album 'Master of Puppets.'

The statement was a reply to another deleted post on Metallica’s account that read: “Utilizing MoonPay, $METAL Token wants to bring wide scale adoption to the @Solana blockchain. Soon anyone will be able to buy Metal Token with credit $ debit cards worldwide.” The hackers even spoke about $METAL’s staking utility.

Metallica fans and crypto users who were convinced by the posts managed to pump $METAL's market cap to over $3 million within the first thirty minutes of its launch. Three hours later, its market cap dropped to about $90,000.