McDonald’s Instagram account was apparently hacked by a hacker on August 21. This led to an important scam that involved a Solana meme coin.
They used the social media accounts of the fast food chain to spread a fake token called “Grimace,” McDonald’s advertising character.
Bubblemaps’ findings Fun. The hacker used multiple addresses to buy the token at the same time and distributed the supply over 100 wallets.
Hackers allegedly stole over $700,000.00 in Solana from the Solana bank during this scheme. Screenshots of X revealed The McDonald’s Instagram was changed to promote the McDonald’s token. “McDonald’s experiment on Solana” The message thanked the followers for their contribution. hinting At the time of scam execution.
It is not a statement McDonald’s confirmed to The New York Post it knew of the incident. “isolated incident” Social media sites are no longer accessible.
“We have resolved the issue on those accounts and apologize to our fans for any offensive language posted during that time.”
This event reminds investors to exercise caution when investing in newly released meme coins. Many of these assets, which are highly volatile, can be susceptible to fraud. Pump.fun is a popular site to create meme coins in the Solana eco-system.
Pump.fun, which was introduced on January 14th, 2024, saw its popularity soar in March when the meme coin season was at its height.
K33’s report The platform’s total revenue is close to $100 million. Pump.fun users have created 1,829 747 meme coins since the beginning of this year. This number, many believe, shows the lack of commitment in the Solana deFi market.
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Source: cryptopotato.com