Picture this: you see a news story about a new cryptocurrency linked to McDonald’s, and in a matter of minutes its value skyrockets tenfold. It seems like your chance to make some easy money. But what if it’s all an elaborate scam? This story has it all: hackers, corporations, and instant riches that evaporate as quickly as they came.
McDonald's Hack: How a Meme Turned into a Real Threat
On August 21, the crypto world was shocked by unexpected news. Journalists from the Wu Blockchain portal reported that the official McDonald’s Instagram account had been hacked. Unknown attackers, having gained access to the account, published a message about the launch of a new cryptocurrency, Grimace Coin (GRIMACE), on the Solana blockchain. To make the deception even more plausible, the hackers, on behalf of McDonald’s Marketing Director Guillaume Hayon, confirmed the existence of this coin, increasing its visibility and trust in it.
The Madness Begins: How One Message Started the Cryptocurrency Rush
The hope for profit attracted thousands of crypto community members, who immediately began buying up Grimace Coin. And in just 30 minutes, the token’s rate soared more than 60 times, and its capitalization reached an incredible $20 million. Dreams of easy money seemed within reach, and this only fueled the excitement around the newly-minted “meme token.”
A Plummet: How Grimace's Inflated Bubble Burst
But like all good things, this moment didn’t last. Just as quickly as the price of Grimace Coin soared, it began to fall. Within minutes, the cryptocurrency was worthless, and its value crashed to $580. This dramatic climax resulted in many investors losing everything they had invested, hoping for an instant profit.
Hacker triumph: subsequent gloating and mockery of victims
The perpetrator of this scam decided not only to run away with the money he earned, but also to brag about his “success.” He posted a message on behalf of McDonald’s, mocking those who lost their funds due to the Grimace Coin crash. He thanked for the $700,000 in Solana cryptocurrency he earned through his scam, and added an Indian flag, hinting at his possible origins.
Quote: How to avoid such scams?
"The Grimace Coin scam is a typical pump and dump scheme,"
(Overhang)
“Investors should be more cautious and not get caught up in the hype, especially when it comes to little-known tokens that are rapidly gaining popularity due to obscure sources.”
What does the story of Grimace Coin teach us?
This story is a reminder of how dangerous the world of cryptocurrency can be for those looking to get rich quick. Hackers can even use big and trusted brands like McDonald’s to create false hype and deceive millions of people. Be careful, be aware of the risks, and always do your research before investing.