Recently, McDonald's Instagram account was hacked to promote the GRIMACE meme coin. This event drew attention due to the significant profit achieved by the hackers.
McDonald's Instagram Hack for GRIMACE Promotion
According to Lookonchain, hackers used the hacked McDonald’s Instagram account to pump up the value of GRIMACE. Leveraging the massive following of this fast-food giant, the hackers managed to attract attention and inflate the market value of the coin.
Unbelievable 79x Return
These 705 million GRIMACE were sold for 5,202 SOL, netting the hackers a profit of 5,136 SOL (approximately $738,000). Such a 79x return on investment is rare and indicative of the high volatility in the cryptocurrency market.
Conclusion
This incident shows that even the most popular social media accounts can be vulnerable to hacks, emphasizing the ongoing risks in the world of cryptocurrency. How long GRIMACE will stay at this level remains uncertain.
The McDonald's Instagram hack to promote the GRIMACE meme coin underscores the importance of cybersecurity and the risks associated with cryptocurrency investments in today's market.
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