Metallica X Account Hacked, METAL Token Rug Pulled After Band Announces Fortnite Collaboration

Almost a month after Caitlyn Jenner launched her JENNER token, the movie star memecoin frenzy continues. This time, iconic heavy steel band Metallica joined the record of public figures concerned with Solana tokens.

Heavy steel band Metallica introduced a collaboration with videogame Fortnite, aiming to achieve a brand new viewers.

However the band’s X account tried to “be part of” a unique membership, posting about a Solana-based token known as METAL.

Customers grew suspicious, debating whether or not the bulletins have been pretend or if the account had been hacked. Regardless of preliminary skepticism, a number of customers fell into the rip-off.

The graphics for the posts, and the posts themselves, have been “fairly effectively executed,” stated one X member, including that the attackers assured customers that METAL was not a rip-off and the band was “in it for the lengthy haul.”

The attackers additionally claimed that crypto fee firm MoonPay was collaborating with the band. However MoonPay denied their involvement, stating that the chargeable for the hack was not the grasp of puppets however the “grasp of scams.”

The Solana-based token’s market capitalization surpassed $2 million, however it shortly plummeted after the band recovered entry to the X account and deleted the promotional posts.

One dealer turned a $3,380 funding into $24,600, shopping for the tokens on the $50,000 market cap and promoting on the excessive of the rip-off, in accordance with on-line reviews.

The token is now buying and selling at $0.00002031, down 99.3% from its highest worth of $0.003353. Its market cap is $20,000, down 9000%.