In a shocking turn of events, McDonald's Instagram page fell victim to a cyberattack that resulted in the promotion of a fraudulent Solana token. The scam was so effective that it briefly sent the token's market cap soaring to $30 million before the bubble burst and the cryptocurrency was exposed as a hoax.

The incident unfolded rapidly, with the hacked account posting bogus endorsements of the Solana token. Unsuspecting followers who trusted the authenticity of McDonald's page rushed to invest, driving the market cap to astonishing heights in a matter of hours. However, it didn’t take long for the truth to surface.

As soon as the scam was exposed, the token's value plummeted, crashing to a market cap of just $1 million, according to data from Pump.fun. While McDonald's quickly deleted the fraudulent posts, the damage had already been done. The hacker behind the scheme allegedly made off with approximately $700,000 worth of Solana (SOL) tokens before the crash.

This incident highlights the growing threat of cyberattacks in the cryptocurrency space, particularly those involving trusted and recognizable brands. Investors are reminded to exercise caution and verify the legitimacy of investment opportunities, especially when they come from unexpected sources.