Hackers use McDonald’s Instagram to promote Meme Coin GRIMACE

In the year August 21, 2024 A hacker hijacked the Instagram accounts of the largest fast food chain McDonald's to promote a fake Solana-based cryptocurrency called “GRIMACE”. In 30 minutes, the hackers stole more than $700,000 when this fake token went up and its market capitalization reached $25 million, before reaching $1 million, according to data obtained by Pump.Fun.

Later, the hackers deleted the Instagram post of the fake meme coin “GRIMACE” suggesting that McDonald's was experimenting on Solana. After the money was hacked and stolen, the hacker added a message of thanks, “Thank you Solana for $700,000.

Additionally, a post by McDonald's marketing director Guillaume Huin on X (previously Twitter) went viral, garnering a lot of attention from the crypto community. In a post on X, the marketing director added,

“If you're a $GRIMACE owner, drop your Instagram handle below and we'll follow you on the official McDonald's account. We love and appreciate all the support of Grimace.

However, both of these posts on X and Instagram disappeared soon after, but have already hurt investors.

This is not the first time that hackers have used any famous company or famous Instagram or X account. Earlier, in August 2023, hackers targeted the account of Blockchain Capital X. Additionally, these hackers have targeted investors and crypto enthusiasts by offering “BCAP” token giveaways through fake websites.

Hackers choose this type of attack to trick individuals into linking their crypto wallets.