McDonald’s Instagram Account Hacked by Promoters of Grimace Coin

McDonald’s Corp.’s account on Instagram was hacked Wednesday in an apparent scam involving a cryptocurrency named after Grimace.

Screenshots published by an X user showed a post on the chain’s Instagram leading to a “McDonald’s experiment” on the blockchain platform Solana. Another encouraged users to post whether they owned a coin named after Grimace, the chain’s purple character, before an image emerged saying participants had been scammed out of $700,000.