McDonald's Instagram Hacked to Promote Solana Memecoin 'GRIMACE', $700,000 Extracted

Aug 21, 2024, 04:11 PM

McDonald's official Instagram account was hacked to promote a Solana-based memecoin named 'GRIMACE'. The token's market value surged to $25 million within 30 minutes before crashing. The hacker reportedly extracted $700,000 through this scheme and rug-pulled the coin. The post has since been deleted. The incident has raised concerns about cybersecurity vulnerabilities in large corporations and the potential risks associated with cryptocurrency promotions. McDonald's marketing director, Guillaume Huin, is involved in addressing the situation.