thenewscrypto.com
- The removal of Instagram and X posts indicates that the platform’s accounts have been restored.
- The hackers informed people about the rug pull and made $700,000 worth of SOL.
Bad actors hacked the Instagram account of fast food giant McDonald’s and promoted a meme coin based on Solana. On his X (formerly Twitter) account, which is believed to have been compromised, the company’s director of marketing also published a relevant message.
After hacking into McDonald’s Instagram account, the hacker posted about GRIMACE, a Solana-based meme coin. The hacker said that the corporation had released the meme coin on Solana. Which elicited a range of responses from the community. The asset’s value surged in the hour after the publication before leveling out.
Poor Light on Crypto Industry
In addition, the fast food chain’s director of marketing, Guillaume Huin, wrote a relevant post on the GRIMACE coin on X. The hacker went on to say that if individuals wanted the official Instagram account to follow them back, they could just drop their handles.
The removal of both Instagram and X posts indicates that the platform’s social profiles have been restored. The broader market push in the first quarter of 2024 has helped Solana meme coins gain traction this year. As more and more people get on the bandwagon for these tokens, the price of smaller and even new tokens has risen sharply. But in bear markets, meme coins’ prices decrease because of how the market as a whole feels about them.
Moreover, after the occurrence, the hackers informed people about the rug pull. They changed the bio of McDonald’s Instagram account to say they made $700,000 worth of SOL. The unscrupulous actors’ actions bring a poor light on the crypto industry, according to some crypto users who chastised them.
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