DMR News

Advancing Digital Conversations

Metallica’s Social Media Compromised to Endorse Cryptocurrency Token

ByDayne Lee

Jun 28, 2024

Metallica’s Social Media Compromised to Endorse Cryptocurrency Token

The official X account (formerly Twitter) of the legendary heavy metal band Metallica was recently hacked, leading to unauthorized promotions of a cryptocurrency token named METAL, supposedly linked to the band. The breach involved several misleading posts about partnerships and potential benefits associated with the token, exploiting the band’s significant following.

Details of the Hack

  • Token Promotion: The hackers used Metallica’s X account to promote the METAL token, initially claiming it was a collaborative effort with Ticketmaster, launched on a Solana-based token deployer known as
  • False Claims: Further posts falsely stated that the fintech firm MoonPay was also involved. However, MoonPay’s president, Keith Grossman, quickly refuted these claims, emphasizing that MoonPay does not support the METAL token.
  • Creative Deception: The posts from the hacked account cleverly referenced Metallica’s iconic song titles and lyrics to lend credibility to the scam, such as calling potential scam victims “not the master of puppets — they’re the master of scams.”

Metallica’s team acted swiftly to regain control of their X account, removing all posts related to the METAL token. Despite their quick response, the fraudulent posts had already reached a wide audience.

Event DescriptionTime After LaunchMarket Capitalization
Peak market capitalization reached20 minutes$3.37 million
Significant drop in market capitalization3 hours$90,000

The breach into Metallica’s X account highlights significant security concerns for high-profile social media accounts, particularly those associated with influential figures or entities in the entertainment industry. The incident underscores the need for enhanced security measures to prevent similar attacks that could potentially mislead fans and result in financial losses.

  • MoonPay’s Public Response: MoonPay utilized the same platform to clarify their non-involvement and to warn the public against the scam, leveraging Metallica’s cultural references to alert and educate their audience.
  • Lack of Immediate Response from Ticketmaster: Ticketmaster has yet to comment on the alleged partnership claimed by the hackers, leaving some questions unanswered about the extent of the misinformation spread by the attackers.

Cryptocurrency and Celebrity Endorsements

The incident also casts a spotlight on the broader issue of using celebrity endorsements, whether real or fabricated, to promote cryptocurrency projects. This tactic has been increasingly employed by scammers to lend legitimacy to dubious schemes.

Preventative Measures

  • Enhanced Security Protocols: Social media accounts, especially those belonging to high-profile entities, should implement robust security measures including two-factor authentication and regular security audits.
  • Education and Awareness: Celebrities and their management teams should educate themselves and their fans about the potential misuse of their likeness in promoting cryptocurrency scams.

The hacking of Metallica’s X account serves as a stark reminder of the vulnerabilities that exist within digital and social media platforms. It emphasizes the necessity for heightened security and awareness to prevent such exploits that can have wide-reaching implications for fans and celebrities alike. The incident also contributes to the ongoing dialogue about the intersection of cryptocurrency and celebrity influence, urging caution and due diligence among all stakeholders in the digital space.

Featured image credit: flatart via Freepik

Dayne Lee

With a foundation in financial day trading, I transitioned to my current role as an editor, where I prioritize accuracy and reader engagement in our content. I excel in collaborating with writers to ensure top-quality news coverage. This shift from finance to journalism has been both challenging and rewarding, driving my commitment to editorial excellence.

Leave a Reply

Your email address will not be published. Required fields are marked *