The memecoin craze in Solana is starting to take a disturbing shape. An increasing number of celebrity and band accounts on Portal X are hacked and used to promote suspicious memecoins. It turns out that the legendary band Metallica also fell victim to account theft and the promotion of the METAL scam token.
Metallica a victim of hackers? Everything points to this
Memecoins on Solana can easily be called the biggest trend of the 2024 boom. The number of memecoins promoted by celebrities is flooding social media, which leads to considerable chaos not only among investors, but also the entire cryptocurrency community. For this reason, we increasingly hear about attacks on the accounts of influential cinema or music stars who are supposedly promoting their tokens created on the Solana blockchain. It was no different in the case of the band Metallica, whose account on X was taken over by hackers.
Posts promoting the $METAL token appeared on the profile. Blockchain investigators quickly determined that the $METAL memecoin was launched via pump.fun. Metallica joined the group of celebrities whose accounts on the X website were stolen and scam memecoins were promoted through them. It is worth adding that the price of the METAL token increased dramatically after the publication of posts on the account of the legendary metal band. This price then dropped by approximately 90%!
Memecoin scams based on celebrity accounts are becoming more and more common
Attacks on celebrity and musician accounts are becoming more common. The situation is not helped by the fact that many celebrities have decided to release their own memecoins, sensing the right moment. For this reason, the cryptocurrency community is very skeptical about the next memecoins on Solana, sensing a possible scam.
Unfortunately, some investors see such projects as an opportunity to get rich quickly. Celebrity memecoins go up very quickly, which is why they are considered an excellent springboard to multiply your capital. Unfortunately, most often these are simple pump-and-dump scams that take advantage of the naivety of investors caught up in the memecoin gold rush. Theft of celebrities’ accounts is a perfect trap for such users.
