Hackers likely took over McDonalds’ Instagram account to promote a Solana-based memecoin called GRIMACE. The cyberattack, which briefly duped investors, underscores the growing trend of cryptocurrency scams exploiting high-profile social media accounts.
The hackers didn’t just post about GRIMACE—they crafted a narrative, presenting the token as “a McDonald’s experiment on Solana.” This was enough to convince some that the fast-food giant was genuinely behind the project.
To add to the deception, the hackers altered McDonald’s profile, thanking users for “$700,000 in Solana” and hinting at a rug pull—a blatant signal of the scam.
The fraudulent post on Wednesday sparked a flurry of activity. Investors rushed in, thinking they were getting in early on a McDonald’s-backed venture. According to Pump.fun data the token’s market cap soared to $20 million in no time, only to crash below $1 million when the hackers cashed out, leaving investors with virtu
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