YEREVAN (CoinChapter.com) — McDonald’s Instagram web page was hacked to advertise the Solana memecoin GRIMACE. The unauthorized put up falsely claimed the token was a part of “a McDonald’s experiment on Solana.” This led to a quick surge in GRIMACE’s market capitalization, reaching round $20 million earlier than dropping under $1 million, based on pump.enjoyable information.

The hacker altered McDonald’s Instagram profile, including a message that thanked customers for “$700,000 in Solana.” The message urged a rug pull. Though the put up was eliminated shortly, nevertheless it highlighted a rising development of hackers concentrating on widespread social media accounts to push cryptocurrency tasks.

The hacking of McDonald’s Instagram web page is a part of a sequence of assaults involving social media accounts. Earlier this 12 months, the X account of Google’s cybersecurity agency Mandiant was hacked. The attackers used the account to advertise a pretend token, posing because the crypto pockets Phantom. The rip-off messages directed customers to a fraudulent web site and remained on-line for a number of hours earlier than removing.

These incidents clearly exhibit a rise in hacks concentrating on accounts with giant followings. Moreover, the scams continuously contain Solana memecoins like GRIMACE, profiting from the speedy worth fluctuations of those digital belongings.

In July, American rapper and singer Doja Cat’s X account was hacked to advertise a Solana-based memecoin. Throughout the assault, the hacker eliminated her profile image and bio, then proceeded to put up over two dozen tweets to her 5.6 million followers. Shortly after, Doja Cat addressed the scenario on Instagram, informing her 24 million followers that she was not chargeable for the posts.

This incident follows different hacks involving celebrities. The hacking of Doja Cat’s account led to reactions from different celebrities, together with Iggy Azalea, who tweeted in assist of Doja Cat.

Moreover, the hacking of McDonald’s Instagram web page and different high-profile accounts is a part of a broader wave of cyberattacks. Figures comparable to Elon Musk and Jeff Bezos have additionally had their accounts compromised. Above all, the rise in cyberattacks, significantly since Elon Musk acquired X, has raised considerations in regards to the safety of verified accounts.