Fast food giant McDonald’s official Instagram account was recently hacked, leading to a major cryptocurrency scam that defrauded approximately $700,000 (around Rs 5.8 crore) from unsuspecting users, according to a report by the New York Post.
What exactly happened?
The hackers took control of McDonald’s Instagram page and posted a fraudulent message claiming that the company was distributing free cryptocurrency. It included a link to a deceptive website designed to steal users’ personal information as well as their cryptocurrency wallet details.
Unfortunately, thousands of unsuspecting victims fell prey to the scam, believing the message to be genuine. They shared their sensitive information and wallet credentials, which led to catastrophic financial losses.
The condemned post, which has been deleted, also included offensive language and a racial slur meant to humiliate viewers about their deception. A screenshot was shared by the New York Post. The message read: “Sorry mah n–ga you have just been rug pulled by India_X_Kr3w thank you for the $700,000 in Solana.”
The hacked caption, which was visible to more than 5.1 million followers, included an emoji depicting the flag of India.
This type of scam is known as a “rug pull“. In the cryptocurrency and NFT world, it occurs when scammers create a new project, hype it up to attract investors, and then suddenly abandon the project or, alternatively, disappear with the investors’ money.
How has McDonald’s Responded?
The fast-food giant has said in a statement that it was “aware of an isolated incident that impacted our social media accounts earlier today”.
McDonald’s assured the public that they had “resolved” the issue and apologized for any offensive language posted during the hack.
The internet reacts:
Online reactions ranged from concern about the vulnerability of multiple demographics to anger at McDonald’s to theories that this may have been staged.
It’s crazy how a brand as big as McDonald’s can get hacked so easily, leading to a $700k scam in minutes. This shows how vulnerable we all are in the digital age, especially when money and trust are on the line. #Crypto #McDonald pic.twitter.com/9A8BpwSJTI
— Celestique (@celestiquex) August 22, 2024
