The Cardano Foundation's X account was hacked, leading to the posting of scam links before they were eventually taken down. This incident adds the Cardano Foundation to the growing number of organizations that have been targeted by account hacks, with even the Securities and Exchange Commission being among the victims.
On December 8, the Cardano Foundation's X account was hacked by a threat actor who was promoting a fraudulent "ADAsol" token. The hacker falsely claimed that the Cardano Foundation would stop supporting ADA (ADA), Cardano's native token, because of a lawsuit from the Securities and Exchange Commission (SEC).
Charles Hoskinson, the founder of Cardano, acknowledged the hack on social media after the fraudulent ADAsol token generated around $500,000 in trading volume and then plummeted by 99% in value.
At the moment, both the post about the ADAsol scam and the announcement of a lawsuit from the SEC have been taken down.
The Cardano Foundation is actively working to resolve the issue with the compromised account. It's important to note that no other areas of the Cardano ecosystem have been impacted by the breach. However, users are advised to be cautious and refrain from clicking on any links from the Cardano Foundation X account until more information is provided.
One of the false posts from the hacked Cardano Foundation X account was shared. This information was sourced from ZackXBT.
Related: Cardano's price has increased by 88%, indicating that the ADA rally may still be in its early stages.
Account breaches are a frequent occurrence, and the Cardano Foundation is not the only organization that has faced cybercriminals gaining access to their social media accounts and sharing deceptive links.
Compound Finance's X account was hacked in December 2023. The hacker used the social media page to share links to a fake website that closely resembled the protocol's official site. The fake site promoted fake COMP tokens and by clicking on the links, users unknowingly had their crypto assets stolen.
Symbiotic, a protocol for staking tokens, was targeted by hackers in October 2024. The hackers created a checklist that promised users points for engaging with a post, similar to Airdrop checklists. However, the links in the checklist actually directed users to a phishing site designed to steal Symbiotic tokens from their wallets.
In October 2024, the well-known restaking protocol Eigenlayer's X account was hacked. The hacker then used the account to advertise a fraudulent airdrop campaign.
The person who created the Truth Terminal AI account had their account hacked on October 29th. The hacker gained access to the account in order to promote a fake memecoin.
In November 2024, there was a situation where someone hacked into rapper Wiz Khalifa's X account to promote a fake celebrity memecoin called WIZ. This token was falsely being advertised as a memecoin endorsed by the musician, but in reality, Khalifa had no connection to it.
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