The Cardano Foundation's X account was compromised by hackers who posted scam links before they were removed. This incident adds the Cardano Foundation to the growing number of organizations that have experienced similar hacks, with even the Securities and Exchange Commission being targeted.
On December 8, the Cardano Foundation's X account was hacked by a malicious actor who was promoting a fake token called "ADAsol." The hacker also falsely claimed that the Cardano Foundation would stop supporting 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. However, the fraudulent ADAsol token managed to generate around $500,000 in trading volume before quickly plummeting by 99%.
At the moment, both the ADAsol scam post and the notice of a potential lawsuit from the SEC have been taken down.
The Cardano Foundation is currently addressing the hacked account and ensuring that other aspects of the Cardano ecosystem remain secure. However, users are advised to be careful and avoid clicking on any links from the Cardano Foundation X account until an update is provided.
One of the fake posts that appeared on the hacked Cardano Foundation X account. This information was sourced from ZackXBT.
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Account hacks are a frequent occurrence, and the Cardano Foundation is not alone in facing threat actors who compromise social media pages to share fake links.
In December 2023, the X account of Compound Finance was compromised by a hacker. The hacker used the social media page to share links that led to a fake website resembling Compound Finance's official site, where fake COMP tokens were promoted. Users who clicked on these links unknowingly had their cryptocurrency stolen.
In October 2024, Symbiotic, a protocol for restaking, was the target of a hack on an X account. The hacker created a checklist that promised users points for engaging with the post, similar to Airdrop checklists. However, the links in the checklist actually directed users to a phishing website that aimed 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 utilized the account to publicize a fraudulent airdrop campaign.
On October 29th, the creator of the Truth Terminal AI account had their account hacked by someone who then used it to promote a fake memecoin.
In November 2024, the social media account belonging to rapper Wiz Khalifa was hacked in order to promote a fraudulent memecoin named WIZ. This token was falsely marketed to followers as a legitimate project associated with the musician, although it had no connection to Khalifa at all.
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