Hackers hijacked McDonald's Instagram account to promote a fake cryptocurrency token named 'GRIMACE,' misleading followers and reportedly stealing $700,000 from investors.
The fake GRIMACE coin experienced a meteoric rise in market capitalization from zero to $25 million within 30 minutes, before crashing as hackers withdrew their funds.
After the incident, McDonald's acknowledged the breach and confirmed that its head of social media’s Twitter account had been compromised, leading to misleading posts.
In response to the unauthorized posts, McDonald's stated: 'We are aware of an isolated incident that impacted our social media accounts earlier today and have resolved the issue.'
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