In the first tweet posted on behalf of Metallica, the attackers announced that the METAL token would improve fan interaction with the music group. Subscribers were informed that METAL developers are cooperating with the Ticketmaster service, so investors can get discounts of up to 25% on concert tickets, as well as participation in an exclusive token distribution.
Then the hackers posted another tweet, which talked about a partnership with the MoonPay payment service, thanks to which users have the opportunity to buy METAL tokens using credit and debit cards. Soon, MoonPay's management denied the information, stating that it does not support the token. MoonPay warned subscribers: if METAL is offered to you, it is done "not by the master of puppets from the Master of puppets song, but by the master of fraud."
MoonPay Safety Alert
If someone is offering you a $METAL token, they are not the master of puppets – they’re the master of scams!
Keep your keys safe and ride the lightning responsibly! https://t.co/y1j3RkfY0f
About 20 minutes after the hacker tweets were posted, METAL's market capitalization exceeded $3 million. After reports of the hack appeared, the token collapsed by almost 100%, and the market capitalization fell below $90,000. Metallica has already restored access to its account and deleted the tweets, but did not comment on the incident.
In February, scammers hacked the account of the American company MicroStrategy on the social network X, posting phishing links to MSTR tokens, which were allegedly developed by the company itself. Total user losses exceeded $440,000.