McDonald’s Instagram Hack Exposes $738K Memecoin Profit Scheme!

Key Points:

• McDonald’s Instagram hack to promote GRIMACE meme coin.
• Using 24 wallets, they purchased 705M GRIMACE for 65 SOL and sold it for 5,202.
• McDonald’s Instagram hack netted a profit of 5,136 SOL (~$738,000), achieving a 79x return on investment.

McDonald’s Instagram hack account, leaving some unsuspecting promotion of the meme coin GRIMACE.

McDonald’s Instagram Hack Account for GRIMACE Promotion

According to Lookonchain, the hacker has used this cyber attack to pump up the value of GRIMACE. Riding on the massive population following this fast-food giant, the hacker had to gain popularity and inflate the market value of this coin.

Part of the hacker’s strategy involved 24 internal wallets, which were used to purchase a record 705 million GRIMACE coins at an initial investment of just 65 SOL.

Read more: McDonald’s Instagram Account Was Hacked To Shill Scam Meme Coin

Unbelievable 79x Return on Investment Revealed

The mass purchase was sold for 5,202 SOL, netting a profit of 5,136 SOL, about $738,000, and a return of 79 times the investment.

This proves that nothing in social media—including the most popular accounts—is secure and further underlines the ongoing risks within the most volatile world of cryptocurrency. In some cases, the GRIMACE meme coin will skyrocket in price due to the hacker’s actions, although how long it will remain inflated is anybody’s guess at this point.