Hackers Exploit McDonald's Instagram for $700,000 Crypto Scam

The fast-food giant's account was used to promote a fake Grimace-themed cryptocurrency, misleading millions of followers.

McDonald's Instagram account was hacked to promote a fraudulent Grimace-themed cryptocurrency.
Hackers claimed to have stolen $700,000 through the scam, manipulating the token's value to $25 million before it crashed.
The scam involved a 'rug pull,' a tactic where creators withdraw funds from a cryptocurrency's liquidity pool and disappear.
McDonald's quickly regained control of its account and removed the fraudulent posts and bio changes.
The incident highlights the increasing threat of cyberattacks targeting high-profile social media accounts to promote crypto scams.