The Cardano Foundation's account was hacked, leading to the posting of scam links before they were eventually removed. This incident adds the Cardano Foundation to a growing number of organizations that have been targeted by account hacks, with the Securities and Exchange Commission being another notable victim.
On December 8, the Cardano Foundation's X account was breached by a malicious actor who was pushing a fraudulent "ADAsol" token. They also spread false information that the Cardano Foundation would stop supporting ADA (ADA), the native token of Cardano, because of a supposed 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 made around $500,000 in trading volume before plummeting by 99% in value.
At the moment, both the ADAsol scam post and the following notice of a lawsuit from the SEC have been taken down.
The Cardano Foundation is currently addressing the issue with the compromised account, and there have been no impacts on other aspects of 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 deceitful post was made from the hacked Cardano Foundation X account. This information was sourced from ZackXBT.
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Hacks on X accounts happen frequently. The Cardano Foundation is not the only one facing incidents where hackers gain access to social media pages and share fake 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 actual site. This fake site promoted fraudulent COMP tokens and by clicking on any of the links, users unknowingly had their cryptocurrency stolen.
Symbiotic, a protocol for restaking, was targeted by a hacker in October 2024. The hacker posted a checklist on social media offering users points for engaging with the post, similar to Airdrop campaigns. However, the links in the post directed users to a phishing site designed to steal legitimate Symbiotic tokens from their wallets.
In October 2024, the well-known restaking platform Eigenlayer's X account was hacked. The hacker then utilized the account to advertise a fraudulent airdrop campaign.
The creator of the Truth Terminal AI account experienced a hacking incident on October 29th. The hacker gained access to the account and used it to promote a fake memecoin for their own benefit.
In November 2024, there was an incident where someone hacked into rapper Wiz Khalifa's X account to promote a fake memecoin named WIZ. The token was falsely advertised as being associated with the rapper, but in reality, there was no connection between Khalifa and the cryptocurrency.
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