Hackers Compromise McDonald's Instagram, Promote Solana Meme Coin

A hack occurred on the McDonald's Instagram account when malicious individuals promoted a joke coin based in Solana.

Hackers took over the Instagram account of McDonald's and promoted a Solana-based meme coin, sparking widespread concern over crypto-related scams.

A偌nald's Instagram Hacked, Solana Meme Coin PromotedA hack occurred on the McDonald’s Instagram account as malicious individuals promoted a joke coin based on Solana.

Moreover, something relevant was posted by the company’s marketing director on his X (formerly Twitter) account, which is believed to have been compromised. People have been complaining about the worsening sentiment due to the prevalence of crypto-related scams in the market.

After hacking into the McDonald’s Instagram account, the perpetrator posted GRIMACE, a Solana meme coin.

Grimace Coin Surges Following McDonald’s Instagram HackThe development saw the community members react in different ways as a hacker claimed that the corporation had dropped the meme coin on Solana. The asset’s value surged in the hour following the post before stabilizing.

Further information on the GRIMACE coin was shared in a post by Guillaume Huin, the fast food chain’s director of marketing, on X. The hacker also asked users to drop their Instagram handles so that the real account could follow them back.

“If you’re a holder of $GRIMACE, drop your Instagram handles below, and we will follow you on the official McDonalds account. We love and appreciate all the support of Grimace.”

Instagram, X Posts Deleted as McDonald’s Accounts RestoredBoth the Instagram and X posts were deleted, suggesting that the platform’s social media profiles have been restored. This year, the Solana meme currencies have gained traction in the token’s ecosystem with the broader market push in Q1 2024.

A substantial increase in the smaller tokens has taken place due to the rapid growth of these tokens, as users are looking to make quick gains. However, in bear markets, meme coins have seen their prices decrease because of the overall market sentiment.

Hackers Put $700K Haul in McDonald’s Instagram BioCoingape adds that following the incident, the hackers went on to inform people of the rug pull by changing the bio of the McDonald’s Instagram account to state that they made $700,000 worth of SOL. The illicit actors’ actions have brought a negative light to the crypto industry, with some crypto users slamming them for their actions.

Recently, a number of phishing and other scams have targeted the cryptocurrency sector, notably the social media accounts of major sites. This has caused regulators around the world to become quite strict with the industry, which has led to several lawsuits being filed against crypto firms in an effort to protect investors.

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