Crypto continues to bring a flair of madness wherever it penetrates, and yesterday was no exception. Many people already know that, yesterday, the official account of the world-famous fast food chain McDonald's was hacked. The hack took place in order to advertise a fake meme cryptocurrency on the Solana blockchain, tied to the character Grimace from McDonald's lore. 

The incident caused a major reaction in the crypto community. The creator of the first popular Dogecoin (DOGE) meme, Billy Markus, known online by the nickname Shibetoshi Nakamoto, was not left out. So he, reacting to what happened rather prosaically, stated that it is all pretty stupid.

According to the creator of DOGE, everyone who bought the token either knows the rules of the game and is trying to buy and get out quickly, closing themselves off to newcomers while the scammers "pulled the rug out," or are just "really really really stupid."

What happened?

The attackers published a post mentioning the name and contract address of the token. In addition, the X account of the marketing director of the fast food empire was hacked for the same purpose. As a result, the market capitalization of the scam token grew to $30 million, and the attackers' winnings amounted to about $700,000. 

McDonald's has yet to comment on the situation, and all posts have been deleted. This is hardly the last time this kind of scam involving official sources of major accounts has happened, and McDonald's has over five million of them on Instagram.

It is important to stay on your guard and think three times before deciding to buy something like this - even if it is an official token.

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.