Recently, McDonald’s (the biggest fast-food restaurant chain in the world) has experienced an exploit. Lookonchain, a well-known on-chain analytics provider, disclosed that a hacker effectively exploited the Instagram account of McDonald’s to pump a meme token $GRIMACE. The analytics firm took to its official X account to provide the details of the respective incident.
Hacker takes over the Instagram Account of McDonald’s to Promote $GRIMACE
Lookonchain noted that this incident reminds the crypto community of the dangers concerning this swiftly advancing sector. The strategy of the hacker reportedly worked wisely and efficiently. By hacking the Instagram account of McDonald’s the exploiter got the capability to reach a broad audience. In this respect, the hacker leveraged the credibility of the fast-food giant for the promotion of $GRIMACE.
With the use of the well-reputed platform’s account, the hacker intended to make the targeted meme coin look legitimate. In addition to this, the exploiter utilized twenty-four insider wallets to purchase a significant amount of 705M $GRIMACE coins. The hacker reportedly carried this out with a comparatively small investment (nearly 65 $SOL).
The Exploiter Makes a Massive Profit of $738,000
Following conducting the respective big-scale buyout, the exploiter moved forward to sell the respective coins for 5,202 $SOL. In this respect, the hacker made a substantial profit of up to 5,136 $SOL. This amount has a value of nearly $738,000 at the present market rates. According to Lookonchain, this figure represents an enormous 79x profit on investment.
