The same celebrity corners still cause misfortune
You couldn’t escape the phenomenon: most celebrity meme corners were scams before rapper Iggy Azalea gave birth to her own token. Since then, many stars have followed the trend, sometimes with great bad luck!
This is currently the case of the famous group Metallica, whose X account was hacked to promote a new meme coin based on Solana. Called METAL, it was announced as a collaboration between the Ticketmaster platform, the MoonPay payment service and the musicians.
The announcement seemed so real that it caught the eye of investors. METAL saw a trading volume of over $10 million… before collapsing in a flash. All in less than an hour and a half, an interval which resulted in the posts being deleted and the scammers disappearing.
Note, however, that Metallica is not the only victim of this type of phenomenon since rapper 50 Cent also paid the price this month.
A serial scammer also makes a comeback
Another victim of celebrity meme corner madness, singer Jason Derulo promoted a token in his name. However, it fell by 72% a few minutes after its release, confirming its community’s suspicions of rug pull.
To go further: Memecoins: how to avoid rug pulls?
According to him, the star was allegedly scammed by Sahil Arora, an Indian teenager who multiplies fake meme coins and who was at the origin of the trend. He subsequently claimed to want to raise the price of the token to apologize… before finally selling his own. A situation which, according to Bubblemaps, would prove that the scam was undoubtedly well-oiled and shared!
The moral of the story: all that glitters is not gold and even less so are the same coins.
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, we encourage readers to verify the facts on their own and consult a professional before making any decision based on this content.
