I've seen LOL on French forums, but those forums also contain English members and I think aFrenchie posted what the French equivalent was somewhere on this site, but can't remember where. LOL would not make sense for 'laugh out loud' in French other than that it has been adopted from the English. And I have seen c instead of c'est or g instead of j'y (they sound the same when spoken in French) but not to the extent of the way we use LOL LMAO, BRB, IMHO in English.
EDIT: See I knew aFrenchie knew. Thanks for the link