🚨🚨Hackers compromise McDonald’s Instagram account to conduct $700k rug pull🚨🚨
The group identified as India_X_Kr3w managed to snag $700,000 after gradually dumping their GRIMACE holdings
Fast food chain McDonald’s’ Instagram profile promoted a scam memecoin deployed on Solana (SOL) after being compromised.
The token — called GRIMACE — hit a $25 million market capitalization within two hours of its launch before it was rugged and lost more than 95% of its value.
The scammers, who identified themselves as “India_X_Kr3w,” claim to have snagged roughly $700,000 from investors who believed the memecoin was an official McDonald’s’ token.
GRIMACE was deployed via Pump.fun and quickly reached the bonding curve limit to be deployed on Raydium.
Notably, DEX Screener data shows that the token managed to amass nearly $20 million in trading volume within two hours. Additionally, investors seem to keep betting on the token, as the liquidity from the pool on Raydium is growing despite the rug pull.
It took nearly two hours for McDonald’s to recover access to the account, and all posts related to the memecoin have been deleted as of press time.
