Metallica's X Account Hacked, Used to Promote Solana Memecoin [METAL]

Solana [SOL] is making waves as the go-to blockchain for celebrities eager to launch their meme coins. However, this newfound fame also comes with a dark side.

Solana[SOL]has become the blockchain of choice for celebrities looking to launch their meme coins. However, this newfound fame also comes with a dark side. While some stars are voluntarily jumping on the Solana meme coin bandwagon, others are finding their accounts hacked and used to promote various coins. Metallica's misstep in crypto The official Twitter account for the heavy metal band Metallica was compromised on June 26. The exploiters used the account to promote a Solana token with the ticker METAL. The hackers posted a fraudulent announcement about a partnership with Ticketmaster to launch the token, which was actually created on the Solana-based platform pump.fun. Upon investigation, it became clear that Ticketmaster had made no such announcement. Metallica's team later regained control of the account and removed all posts related to the token. During the search for the exploiters, Metallica's account also accused the fintech firm MoonPay of involvement with the token. However, MoonPay's president, Keith Grossman, responded to these accusations on Twitter, stating, “Pls be careful. MoonPay does NOT support $METAL on @solana.” Expanding on the topic MoonPay further noted, Later in the day, Metallica went a step ahead and blocked MoonPay's official account. Metallica is not the only one! This isn't the first time something like this has happened. Earlier in the month, another SOL meme coin, HULKAMANIA[HULK], saw a massive $15 million drop in market capitalization after a swift pump-and-dump on June 6, all within just two hours. This incident coincided with claims that WWE icon Hulk Hogan endorsed the coin on social media, an accusation that Hogan, aka Terry Gene Bollea, later denied. Solana meme coins remain unaffected Interestingly, this incident did not impact the Solana meme coin market capitalization. At the time of writing, the Solana meme coin market cap stood at $6.71 billion, reflecting a 10.1% surge in the last 24 hours. Meanwhile, other celebrity-linked Solana meme coins, such as Jason Derulo's JASON and Iggy Azalea's MOTHER, demonstrated bullish sentiment. According to CoinGecko, JASON surged by an impressive 85%, while MOTHER saw a notable increase of 29% in the past 24 hours.

The above is the detailed content of Metallica's X Account Hacked, Used to Promote Solana Memecoin [METAL]. For more information, please follow other related articles on the PHP Chinese website!