The legendary metal band known as Metallica has issued a warning to its fans about an ongoing crypto scam giveaway coming right before the launch of its much-anticipated album, 72 Seasons. Markedly, the giveaway was brought to the notice of the band by its fans.
“In the wake of last week’s exciting news of our new song, new album, and new tour, unfortunately, the ugly side of social media made an appearance. Many of you have let us know about YouTube channels and live streams, as well as websites, claiming to offer Metallica Crypto giveaways in conjunction with last week’s announcement,” Metallic announced
The band further urged fans to always look out for official verification of such information before believing. “Let’s be as clear as possible. These are scams. They’re being streamed on fake YouTube channels posing to be ours and all pointing to websites that we do not run. Please remember — all of our official social media channels are verified. Always look for official verification before believing something wild and crazy to be true.”
Crypto Scammers Leveraging Social Media
So far, a Manhattan man has been scammed of $25,500 in Bitcoin (BTC) by a fake Metallic YouTube account that asked him to transfer the funds. According to blockchain security firm CertiK, the rate of front-running scams on YouTube has surged to about 500% in one year.
“We analyzed YouTube for videos mentioning the phrase “front running bot” and found that of a sample of 232 videos, 84% were scams. The videos we analyzed started to circulate in 2021 and, as can be seen in the table below, saw a six-fold increase in 2022,” CertiK said
More so, the use of social media platforms to perpetrate cyber attacks has become more rampant. Even before he acquired Twitter, Elon Musk had pointed out two years ago that the rate of crypto scams on the blue app has risen to new levels.
Fans especially, those non-crypto inclined, have been warned to look out for verification symbols because they would be easier targets for the bad actors who organize these attacks.