It’s quite evident that bad actors have left no stone unturned as legendary metal band Metallica warned fans against crypto giveaway scams right before their highly anticipated launch of its new album, 72 Seasons.
Cashing in on the buzz around Metallica’s new album launch and upcoming tour, scammers have started targeting metalheads through social media impersonation. Metallica, however, was quick to point out “the ugly side of social media,” asking fans to steer away from Metallica Crypto giveaways, stating:
“Let’s be as clear as possible. [Metallica crypto giveaways] are scams.”
Sad but true, Cointelegraph recently highlighted a 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 as the band warned against fake YouTube channels that point to unofficial phishing websites.
Fans were also asked to limit their interactions to verified Metallica accounts, especially when dealing with information that can be considered “wild and crazy to be true.”
While the crypto community knows the telltale signs of a scam, the alert aims to warn non-crypto and general fans who may be easier victims of the new scam.
Metallica also shared a list of official social media channels to ensure that no fans fall for the rampant crypto giveaway scams.
The crypto scammers spared not even the victims ofas deepfake videos cropped up promising a “giveaway” that would “double your cryptocurrency.”
Over the weekend, a verified account posing as FTX founder SBF posted dozens of copies of this deepfake video offering FTX users "compensation for the loss" in a phishing scam designed to drain their crypto wallets pic.twitter.com/3KoAPRJsya— Jason Koebler (@jason_koebler) November 21, 2022
The videos in question use SBF’s old interview clips and manipulate the audio to spread misinformation about FTX’s funds' recovery plan.