A scandal erupted around McDonald's yesterday, when the company's official Instagram page announced a new cryptocurrency called GRIMACE, launched on the Solana network.
Hack Attack on McDonald's
It was discovered that McDonald's official Instagram page was hacked by scammers. The hacker who took over the account promoted a memecoin called GRIMACE, issued on the Solana network. The post read: 'GRIMACE! A McDonald's experiment on Solana.'
Rise and Fall of GRIMACE
After the hacker's post, GRIMACE's market value quickly rose from $100,000 to $25 million. However, after the hack was discovered, the price crashed significantly. The hacker bragged about earning $700,000 from the operation, stating: 'Sorry buddy, you got scammed. Thanks for the $700,000 Solana.'
Apology from McDonald's
McDonald's has not made an official statement, but a company official who spoke to The Us Sun apologized for the incident: 'We are aware of the isolated incident affecting our social media account. The issue has been resolved. We apologize to our followers for the offensive content shared during this time.'
The GRIMACE price experienced a huge increase and reached $0.0250, but after the hack was realized, it fell just as quickly.
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