Crypto Venture News One stop Crypto Track Down 
Metallica’s new album launch, and upcoming tour named 72 Seasons are already in the way of launch. The threat actors are undergoing a cryptocurrency scam. The scammers have targeted the metalheads via social media impersonation through crypto giveaway scams.
The company was quick enough to point out the hideous side of social media. The musical band Metallica has also been clear in its statements and urged fans to steer away from the cryptocurrency scam or any crypto giveaway scams. The company mentioned,
“Let’s be as clear as possible. [Metallica crypto giveaways] are scams.”
In the latest incidents, it is clear that the front-running scams on Youtube are on a rise. According to the blockchain security company CertiK, these frauds have risen by 500% in just one year. The ongoing Metallica cryptocurrency scam has contributed to the statistics and the music band has warned against the fake YouTube channels pointing to unofficial phishing websites.
The American heavy metal band has also asked its fans to limit their interactions to the verified Metallica social media handles. This is specifically while dealing with information that might be viewed as “wild and crazy to be true”.
— Metallica (@Metallica) December 6, 2022
The crypto community is aware of the telltale signs of a cryptocurrency scam. However, the alert aims to warn the general and the non-crypto fans who might prove to be the easiest victims of the latest Metallica scam. In addition to this, Metallica has also shared a list of its official social media channels to make sure that no fans fall for the widespread crypto giveaway scams.
In the context of this scenario, the cryptocurrency scammers have not even spared the FTX CEO Sam Bankman’s victims. The deepfake videos have popped up on the accounts of the victims promising a giveaway that mentions “double your cryptocurrency”. They mentioned this is a method to “compensate for the loss” through the phishing website ftxcompensation.com. Nonetheless, the cryptocurrency scam is all set to drain the users of their crypto wallets.
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 most interesting part is that the videos that are in use to trick the users use the old interview clips of SBF and manipulate the audio in a bid to spread misinformation regarding FTX’s funds’ recovery plan.
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