Solana

Coin

<a href="https://bitcoinworld.co.in/mcdonalds-instagram-hacked-in-25m-solana-grimace-scam/" title="McDonald’s Instagram Hacked In $25m Solana ‘GRIMACE’ Scam" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">McDonald’s Instagram account seemingly hacked to promote Solana token ‘Grimace’</li>
 <li style="font-weight: 400">The fast-food chain’s Instagram account appeared to have been hacked to promote a Solana meme coin.</li>
 <li style="font-weight: 400">GRIMACE token shot to a market capitalization of $20 million before plummeting to less than $1 million.</li>
</ul>
McDonald’s Instagram account seems to have been compromised in order to promote a Solana meme coin.
Earlier Wednesday, the McDonald’s account on the social media platform appeared to promote a Solana-based meme coin called GRIMACE. The token rapidly rose to a market capitalization of about $20 million before drastically following to below $1 million, according to Pump.fun data.
While the Instagram post promoting the token has been deleted, it appears in one post the GRIMACE meme coin was dubbed “a McDonald’s experiment on Solana.”
Simultaneously, the fast food giant’s Instagram profile page also appeared to have been compromised with someone writing “thank you for the $700,000 in Solana” following a mention of a rug pull.
<h3 id="span-style-font-weight-400-meme-coin-mania-span">Meme Coin Mania</h3>
Pump.fun, which launched in January, is a Solana-based meme coin generator that has facilitated the creation of <a href="https://dune.com/queries/3705945/6235708" rel="noopener noreferrer nofollow">over</a> 1.8 million meme coins.
Overall, the Solana-based memecoin market has experienced pronounced volatility in August. Last week, Solana set a new record for weekly outflows, according to CoinShares, which blamed the surge in outflows on a sharp decline in meme coin trading.
A couple of days ago, Pump.Fun’s cumulative revenue was on the verge of surpassing $100 million.

McDonald’s Instagram Hacked In $25m Solana ‘GRIMACE’ Scam

Table of Contents

ItsBitcoinWorld

Other articles published on Aug 22, 2024

Ethereum ETF Gets Approved and THETA Gains Over 11% in Value, Seize the Opportunity with Qubetics...

Hong Kong’s Crypto Hub Plans Hit by Regulatory Challenges

Launch a Network with Restaked Security in Minutes: Tanssi and Symbiotic Set New Ethereum Standard

4 Crypto Presales to Keep Tabs on in 2024

MicroStrategy’s Michael Saylor Forecasts Bitcoin’s Rise to $350,000 by 2024

JokerAI64x Launches AI-Driven Token with Presale Bonuses

Join our free newsletter for daily crypto updates!