Metallica, the legendary metal band, has warned fans against crypto giveaway scams leading up to the launch of its highly anticipated new album, 72 Seasons.
It has been reported that cashing in on the buzz around the new album and upcoming tour, scammers have started targeting metalheads through social media impersonation. Metallica was quick to point out “the ugly side of social media” and ask fans to be cautious.
“Let’s be as clear as possible. These [crypto giveaways] are scams.”
However, the growth of crypto scams is sad but true. Reports recently highlighted the rise in front-running scams on YouTube, which according to blockchain security firm CertiK, has risen by 500% in one year. The ongoing Metallica scams contribute to the statistics, with the band warning against copycat YouTube channels that point to unofficial phishing websites.
The report said that Metallica also asked fans to limit their interactions to verified band accounts, especially when dealing with information that could be considered “wild and crazy to be true,” and shared a list of its official social media channels.
Thus, while many in the crypto community know the telltale signs of a scam, the alert aims to warn non-crypto-native people who may more easily fall victim. Even the victims of FTX's collapse aren't safe, with deepfake videos cropping up featuring former CEO Sam Bankman-Fried promising a “giveaway” that will “double your cryptocurrency.”