Hackers briefly took over the social media account of legendary band Metallica on a popular platform, using it to promote a crypto token called METAL. The hackers claimed that the band was involved with the token, which could be used to obtain free concert tickets and other perks.
The hack occurred during a time when Metallica was promoting its new album and tour, and the band’s support base is massive. The fake posts were designed to deceive fans into buying the METAL token, with the promise of exclusive benefits.
According to reports, the METAL token was launched in collaboration with Ticketmaster and payment service Moonpay. However, Keith Grossman, the chairman of Moonpay, released a statement denying any involvement with the token. Metallica and Ticketmaster have not yet commented on the incident.
Within minutes of the hack, the value of the METAL token surged by over 43,000 percent, reaching a total market capitalization of over $3 million. Trading volume increased to $10 million, and more than 30,000 transactions took place.
However, the token’s value quickly plummeted, leaving only a residual $35,000 in its wake. Despite this, it’s likely that the hackers made a substantial profit from the hack.
This is not the first time celebrities have been targeted with similar social media hacks. Rapper 50 Cent and former wrestling legend Hulk Hogan have also been victims of these types of attacks. The exact method used to gain access to Metallica’s account remains unknown.