Dogecoin Creator Breaks Silence on Fake McDonald's Meme Coin Scam

McDonald's Hack Prompts Meme Cryptocurrency Scam

Amidst the ever-evolving crypto landscape, a peculiar incident unfolded yesterday involving the official McDonald's Twitter account. Hackers seized control of the account to promote a fraudulent meme cryptocurrency on the Solana blockchain, featuring the iconic Grimace character.

Crypto Community Reacts

The hack sparked a significant response within the cryptosphere. Dogecoin creator Billy Markus, known as Shibetoshi Nakamoto, condemned the incident as "stupid." He suggested that those who purchased the token either understood the risks of meme tokens or were simply gullible.

Scam Details

The attackers disseminated information about the token's name and contract address. They also compromised the Twitter account of McDonald's marketing director. Consequently, the market capitalization of the fraudulent token reached an astonishing $30 million, yielding approximately $700,000 in profits for the perpetrators.

McDonald's Response and Precautions

McDonald's has yet to address the situation, and the malicious posts have been removed. This type of scam, exploiting the credibility of official accounts, has become increasingly prevalent, particularly on Instagram, where McDonald's boasts over five million followers.

Buyer Beware

Ultimately, individuals must exercise heightened vigilance before making cryptocurrency purchases, even when seemingly associated with reputable organizations. Cautious consideration should be given to the potential risks involved in investing in meme tokens.