The Cardano Foundation's X account was hacked and used to post scam links, but they were quickly removed. This incident adds to the growing number of organizations that have been targeted by similar hacks, such as the Securities and Exchange Commission.
On December 8, the Cardano Foundation's X account was hacked by an individual promoting a fake token called "ADAsol." They 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 creator of Cardano, acknowledged a hack on social media after the fraudulent ADAsol token generated around $500,000 in trading volume before plummeting by 99%.
As of now, both the post about the ADAsol scam and the warning of a lawsuit from the SEC have been taken down.
The Cardano Foundation is currently addressing the issue with the hacked account, and the rest of the Cardano ecosystem has not been impacted. However, users are advised to be careful and avoid clicking on any links from the compromised Cardano Foundation X account until additional updates are provided.
An illegitimate post was made from the hacked Cardano Foundation X account. This information was sourced from ZackXBT.
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Account hacks are a frequent occurrence in the digital world. The Cardano Foundation is not alone in facing cybercriminals who infiltrate social media accounts and share deceptive links.
Compound Finance's X account was compromised in December 2023 by a hacker who utilized the social media platform to share phishing links. These links led to a fake website that closely resembled Compound Finance's actual website and promoted fake COMP tokens. If users clicked on these links, their cryptocurrency would be stolen without their knowledge.
Symbiotic, a protocol for staking, was hacked in October 2024. The hacker posted a checklist offering rewards to users who interacted with the post, similar to Airdrop checklists. However, the links in the post led to a phishing site that stole legitimate Symbiotic tokens from users' wallets.
In October 2024, the popular staking protocol Eigenlayer's X account was hacked. The attacker utilized the account to advertise a fraudulent airdrop campaign.
On October 29, the person who created the Truth Terminal AI account was also a victim of hacking. The hacker gained access to the account in order to promote a fake memecoin.
In November 2024, the social media account of rapper Wiz Khalifa was hacked to promote a fraudulent celebrity memecoin named WIZ. Users were falsely led to believe that the token was endorsed by Khalifa, when in reality, he had no connection to it.
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