McDonald’s official Instagram account was hacked by cryptocurrency scammers who claimed they stole $700,000 in stolen money. The hackers changed the caption of the account, which has over 5.1 million followers, to promote a fake digital currency called “GRIMACE” on the Solana network. The scam involves creating a fake token and promoting it aggressively online before disappearing with investors’ funds.
According to reports, the fake token went from zero to $25 million in value within 30 minutes before crashing. The scammers also hacked into the Instagram account of Guillaume Huin, McDonald’s senior marketing director, and posted about the fake cryptocurrency experiment on Solana.
McDonald’s responded to the incident by stating that they were aware of an isolated issue with their social media accounts and had resolved the problem. They apologized for any offensive language posted during the time of the hack.
In the world of cryptocurrency, this type of scam is known as a “rug pull,” where scammers create a fake token and withdraw funds before disappearing, leaving investors with worthless tokens.
Source: https://nypost.com/2024/08/21/business/mcdonalds-instagram-page-hacked-in-700k-fake-crypto-scheme/