Cardano

On December 8, the Cardano Foundation’s X account was compromised, with hackers promoting a fraudulent token called “ADAsol” and falsely claiming that the foundation would cease support for ADA due to an alleged lawsuit from the Securities and Exchange Commission (SEC).
Cardano founder Charles Hoskinson confirmed the breach in a social media post. However, before action was taken, the scam token generated about $500,000 in trading volume, only to crash by 99%.
The fraudulent posts, including the SEC lawsuit claims, have since been removed.
The Cardano Foundation stated it is working to secure its account, emphasizing that no other parts of the Cardano ecosystem were affected.
Users are advised to avoid clicking any links from the foundation’s X account until the issue is fully resolved.
<h3 class="wp-block-heading" id="frequent-x-account-hacks-targeting-crypto-projects">Frequent X Account Hacks Targeting Crypto Projects</h3>
The Cardano Foundation joins a growing list of entities impacted by social media hacks involving crypto scams.
In December 2023, Compound Finance’s X account was hacked, with phishing links posted to a counterfeit website advertising fake COMP tokens. These links drained funds from unsuspecting users.
In October 2024, Symbiotic’s X account was hacked, and the attacker posted fake interaction checklists resembling airdrop campaigns. These led users to phishing sites that stole legitimate tokens.
The same month, Eigenlayer’s X account was compromised to promote a fraudulent airdrop campaign.
Even non-crypto accounts have been targeted. On October 29, the Truth Terminal AI account was hacked to market a scam memecoin.
In November 2024, rapper Wiz Khalifa’s X account was hacked to promote “WIZ,” a fake memecoin falsely linked to the artist.
Such incidents highlight the need for vigilance when interacting with crypto-related social media posts, especially during hacks.

Cardano Foundation X Account Hacked in ADAsol Scam

Table of Contents

Crypto Intelligence

Other articles published on Dec 8, 2024

Top 20 Crypto Altcoins to buy now in December 2024

JUSTICE Coin: The Voice of Fairness on Solana!

Shiba Inu to Lose Two Zeros by 2026? Lunex Network Soars 216% As Pepe’s Price Surge Aims For New ...

Cryptocurrency Market Focuses on Critical Economic Data Release

Crypto Community Pushes Back on Anti-Crypto SEC Commissioner’s Renomination

Is BTFD Coin One of the Best Meme Coin Presales to Join This Week As It Leads the Meme Coin Revol...

Join our free newsletter for daily crypto updates!