Metallica, the legendary heavy metal band, recently had their X account hacked. The hackers used the account to promote a fake Solana token called METAL, scamming unsuspecting investors. The token was advertised as a collaboration between Metallica and Ticketmaster, promising exclusive discounts and rewards. However, the token was actually a scam, and the hackers made off with a significant amount of money.

The hackers created a convincing campaign, complete with professional graphics and promises of big rewards. They even claimed that the crypto payment company MoonPay was involved in the project. However, MoonPay quickly denied any involvement, and Metallica regained control of their account, deleting the promotional posts. Despite this, the token's market capitalization had already surpassed $2 million, and one investor managed to turn a small investment into a significant profit.

The scam highlights the dangers of celebrity endorsements in the crypto space. Many investors are eager to jump on the latest trend, without doing their due diligence. The hackers took advantage of this, using Metallica's reputation to lure in unsuspecting investors. The incident serves as a reminder to always research a project thoroughly before investing.

The METAL token's performance was short-lived, plummeting in value after the scam was exposed. The token's market capitalization dropped by 90%, and it is now trading at a fraction of its original value. The incident is a cautionary tale for investors, highlighting the importance of researching a project before investing.

In conclusion, the hacking of Metallica's X account and the promotion of the fake METAL token serve as a reminder of the dangers of celebrity endorsements in the crypto space. Investors must always research a project thoroughly before investing, and be cautious of scams and fraudulent activities. The incident also highlights the importance of account security, and the need for individuals and organizations to protect their online presence from hackers.