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 been targeted by account hacks, such as the Securities and Exchange Commission.
On December 8, the Cardano Foundation's X account was hacked by a threat actor who was promoting a fake token called "ADAsol" and spreading false information that the Cardano Foundation would stop supporting ADA, the native token of Cardano, 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 managed to generate around $500,000 in trading volume before crashing by 99% shortly after.
As of now, both the post about the ADAsol scam and the announcement of a potential lawsuit from the SEC have been taken down.
The Cardano Foundation is currently addressing the compromised account, and there have been no other impacts on the Cardano ecosystem as a result of the hack. However, users are advised to be careful and avoid clicking on any links from the Cardano Foundation X account until more information is provided.
A false post was made from the hacked Cardano Foundation X account. This information comes from ZackXBT.
Cardano's price has increased by 88%, leading to speculation about whether this rally for ADA is just beginning.
Account breaches are a frequent occurrence, with the Cardano Foundation not being the only organization targeted by hackers who gain access to social media accounts and share fake links.
In December 2023, an unauthorized person gained access to Compound Finance's X account. They used the social media page to share links to a fake website that closely resembled the official protocol's site. This fraudulent site promoted COMP tokens that did not actually exist. If users clicked on these links, their cryptocurrency would be stolen without their knowledge.
In October 2024, Symbiotic, a protocol for restaking, was targeted by a hacker who hacked into an X account. The hacker created a checklist on a post, offering users points for engaging with it, similar to Airdrop checklists. However, the links in the post actually led to a phishing site designed to steal legitimate Symbiotic tokens from users' wallets.
In October 2024, the well-known restaking protocol Eigenlayer's X account was hacked. The attacker took control of the account and used it to advertise a fraudulent airdrop campaign.
On October 29, the creator of the Truth Terminal AI account experienced a hacking incident where an unauthorized individual gained access to the account in order to promote a fake cryptocurrency.
In November 2024, the rapper Wiz Khalifa's X account was illegally accessed by hackers to promote a fraudulent celebrity memecoin named WIZ. This token was falsely advertised to users as an authentic memecoin associated with the rapper, even though Khalifa had no connection to it.
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