The Cardano Foundation recently had their X account hacked, resulting in scam links being posted before being taken down. This incident adds the Cardano Foundation to the growing number of organizations that have fallen prey to similar hacks, with even the Securities and Exchange Commission being among the victims.
On December 8, the Cardano Foundation's X account was hacked by an unidentified individual who was promoting a counterfeit token called "ADAsol" and spreading false information that the foundation would stop supporting ADA due to a legal issue with the SEC.
Charles Hoskinson, the creator of Cardano, acknowledged the hack on social media after the fraudulent ADAsol token caused a trading volume of around $500,000 before dropping by 99% in value.
The post about the ADAsol scam and the warning of a lawsuit from the SEC have both been taken down as of now.
The Cardano Foundation is actively addressing the compromised account, and there have been no other impacts on the Cardano ecosystem from the security breach. However, users are advised to be careful and avoid clicking on any links from the Cardano Foundation X account until an update is provided.
A false post was made from the hacked Cardano Foundation X account. This information was sourced from ZackXBT.
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Account breaches are a frequent occurrence, with the Cardano Foundation being just one of many organizations targeted by hackers who gain access to social media accounts and share deceptive links.
Compound Finance's X account was compromised in December 2023. The hacker utilized the social media platform to share deceptive links leading to a fake website resembling the protocol's official site, promoting fake COMP tokens. Clicking on these links resulted in the theft of cryptocurrency from unaware users.
Symbiotic, a protocol for staking, was targeted by a hacker in October 2024. The hacker created a checklist that promised users points for engaging with the post, similar to Airdrop checklists. However, the links in the post redirected users to a phishing site 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 used the account to advertise a fraudulent airdrop campaign.
The creator of the Truth Terminal AI account experienced a hack on October 29th. The hacker gained access to the account in order to promote a fake memecoin.
In November 2024, there was an incident where someone hacked rapper Wiz Khalifa's X account to promote a fake memecoin named WIZ. This token was falsely marketed as a memecoin endorsed by the rapper, but in reality, Khalifa had no connection to it.
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