McDonald’s official Instagram account fell victim to a cyberattack, with hackers using the platform to promote a Solana-based meme coin called Grimace, which reportedly generated $700,000 in illicit gains.
McDonald’s Instagram Account Breached
The fast-food giant's Instagram account was compromised, allowing hackers to post content promoting Grimace, a meme coin on the Solana blockchain. The hackers falsely claimed that McDonald’s had issued the coin, leading to a surge in its value shortly after the post went live. However, this spike in value was short-lived, as the coin's momentum quickly faded.
In a related incident, Guillaume Huin, McDonald’s Marketing Director, also had his X (formerly Twitter) account hacked, with a post about the Grimace token appearing on his feed. The hackers encouraged users to share their Instagram handles to receive a follow-back from the official McDonald’s account, further fueling the scam.
"If you’re a holder of $GRIMACE, drop your Instagram handles below, and we will follow you on the official McDonald’s account. We love and appreciate all the support of Grimace," the fraudulent post read.
Both the Instagram and X posts were eventually removed, indicating that McDonald’s had regained control of its social media accounts.
Hackers Claim $700,000
Following the attack, the hackers updated McDonald’s Instagram bio to boast about their haul, claiming they had made $700,000 worth of SOL (Solana’s native cryptocurrency). This incident drew widespread criticism from the crypto community, with many pointing out that such scams cast a negative shadow over the entire crypto ecosystem.
The crypto market has increasingly become a target for phishing attacks and scams, with social media accounts of major platforms frequently compromised. As a result, global regulators have intensified their scrutiny of the market, leading to numerous lawsuits against crypto firms in efforts to protect investors.
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