The Cardano Foundation's X account was hacked, leading to the posting of scam links before being taken down. This incident adds the Cardano Foundation to the growing number of organizations that have experienced X account hacks, with even the Securities and Exchange Commission being targeted in the past.
On December 8, the Cardano Foundation's X account was hacked by a malicious actor who promoted a fraudulent "ADAsol" token. The hacker falsely claimed that the Cardano Foundation would stop supporting ADA, Cardano's native token, because of a supposed lawsuit from the Securities and Exchange Commission (SEC).
Charles Hoskinson, the founder of Cardano, acknowledged a hack on social media. The fraudulent ADAsol token managed to generate around $500,000 in trading volume before plummeting by 99% in value.
As of now, the post regarding the ADAsol scam and the announcement of a potential lawsuit from the SEC have both been taken down.
The Cardano Foundation is currently addressing a compromised account, but the rest of the Cardano ecosystem has not been impacted by the breach. Users are advised to be careful and avoid clicking on any links from the Cardano Foundation X account until further updates are provided.
A fake post was made from an account belonging to the Cardano Foundation X, which had been compromised. This information comes from ZackXBT
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Instances of X account hacks are frequently seen in the digital world. The Cardano Foundation is not the only organization that has faced issues with cyber attackers gaining access to their social media accounts and sharing deceitful links.
During December 2023, Compound Finance's X account experienced a security breach. The hacker utilized the social media platform to share phishing links leading to a fake website that closely resembled the protocol's official site, promoting fake COMP tokens. Any user who clicked on these links would have their cryptocurrency stolen without their knowledge.
Symbiotic, a protocol for staking cryptocurrency, was hacked in October 2024. The hacker posted a checklist offering users points for engaging with the post, resembling Airdrop checklists. These links directed users to a phishing website designed to steal legitimate 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 promote a fraudulent airdrop campaign.
On October 29th, the creator of the Truth Terminal AI account fell victim to a hacker who gained access to the account in order to promote a fake memecoin.
In November 2024, there was a hacking incident involving rapper Wiz Khalifa's X account, where scammers promoted a fake celebrity memecoin named WIZ. This token was falsely marketed to users as being endorsed by the rapper, even though Khalifa had no connection to it.
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