🚨Scam Alert
🚨$700000 Solana wiped
🆘McDonald Hack
Hackers Exploit McDonald’s Instagram to Steal $700,000 in Solana
Hackers recently compromised McDonald’s official Instagram account to promote a fraudulent meme coin named “GRIMACE” on the Solana network. Within 30 minutes, the fake token's value soared to $25 million before crashing, resulting in a $700,000 theft from unsuspecting investors.
McDonald’s marketing director, Guillaume Huin, appeared to endorse GRIMACE on X (formerly Twitter), but both his post and the Instagram promotion were swiftly deleted. The scam was sophisticated, with initial investors quickly dispersing tokens across multiple wallets in the same block.
The surge in meme coin scams in 2024 underscores the risks in the crypto market. Analysis of 1,000 tokens on the Base layer 2 network revealed that 1 in 6 were scams, and 91% of new meme coins had significant security flaws. Scammers leverage current trends and fake ICOs to deceive investors, using AI-generated imagery to appear legitimate.
The aftermath leaves many investors upset and financially damaged, while scammers continue to exploit these schemes for profit.
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