Hackers Hijack McDonald's Instagram Account to Promote Fake Solana-Based Meme Coin Called 'GRIMACE'

On August 21, 2024, a hacker hijacked one of the biggest fast-food chains McDonald's Instagram accounts to promote a fake Solana-based meme coin called “GRIMACE.”

On August 21, a hacker stole one of the biggest fast-food chains’ Instagram accounts, McDonald’s, to promote a fake Solana-based meme coin called “GRIMACE.” The scam quickly spread, and within 30 minutes, people had lost over $700,000 in funds.

As the fake token skyrocketed, its market capitalization reached $25 million before crashing to $1 million, according to data from pump.Fun. Later, the hackers deleted the post about the fake meme coin “GRIMACE” from Instagram, which suggests that McDonald is experimenting on Solana. After the hack and theft of the funds, the hacker adds a thank you message, saying “Thank you for the $700,000 in Solana.”

However, both of these posts on X and Instagram vanished soon, but they had already hurt investors.

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

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

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