Bandung, IndonesiaSentinel.com — McDonald’s Instagram account was reportedly hacked on August 21, McDonald Instagram hacked leading to a significant scam involving a meme coin based on Solana.
The perpetrators exploited the fast-food chain’s social media account to promote a fake token named Grimace, referencing one of McDonald’s fictional characters featured in its advertisements.
Findings from Bubblemaps reveal that the hackers obtained 75% of the total supply of the Grimace token using the Solana meme coin pump.fun. The attackers used multiple addresses to buy the tokens simultaneously, then distributed the collected supply across approximately 100 different wallets.
The hackers are reported to have siphoned over USD 700,000, equivalent to around IDR 11 billion (based on an exchange rate of IDR 15,751 per USD), in Solana during the scheme.
Screenshots from X show that McDonald’s Instagram page was altered to support the token, presenting it as a “McDonald’s experiment on Solana” and including a thank-you message to followers, hinting at the execution of the scam.
In a statement to the New York Post, McDonald’s acknowledged the “isolated incident” affecting its social media account.
“We have resolved the issue with the account and apologize to our fans for any offensive content posted during this time,” McDonald’s said, according to Coinmarketcap on Friday, August 23, 2024.
This incident serves as a reminder for investors to be cautious with newly launched meme coins, as many of these highly volatile assets are prone to fraud. For the Solana ecosystem, pump.fun has emerged as a leading site for meme coin creation.
In related news, Bitcoin and other top cryptocurrencies experienced uniform movements on Friday, August 23, 2024, with most major cryptocurrencies showing declines.
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According to Coinmarketcap, Bitcoin (BTC), the largest cryptocurrency by market capitalization, fell by 1.23% in the past 24 hours but remains up 4.80% over the past week. Currently, Bitcoin is priced at USD 60,423 per coin or IDR 951.7 million (based on an exchange rate of IDR 15,751 per USD).
Ethereum (ETH) also saw a decline, with a 0.35% drop in the last 24 hours but a 1.92% increase over the week. Ethereum is currently valued at IDR 41.2 million per coin.
(Agung)
