Cardano

3X Short Cardano Token

1X Short Cardano Token

The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/cardano-foundation-recovers-x-account-after-hack-and-scam-post/" rel="noopener noreferrer nofollow">Cardano Foundation Recovers X Account After Hack and Scam Post</a><a href="https://cryptosnewss.com/david-sacks-named-white-house-ai-and-crypto-czar/" rel="noopener noreferrer nofollow"> </a>appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.The Cardano Foundation’s official X (formerly Twitter) account has been hacked, with attackers posting about a fake SEC lawsuit against Cardano (ADA) while promoting a fraudulent token.<h2 id="header-0">Cardano X Account Hacked</h2>The hackers initially claimed that Cardano had ceased support for all $ADA tokens due to an alleged lawsuit by the SEC. They falsely stated that all ADA tokens would “consequently be burned.”Following this post, the hackers also promoted a fake token named ADAsol.<blockquote>Looks like the CF account got hacked. Try harder hackers <a href="https://t.co/DhT9PpgfZt" rel="noopener noreferrer nofollow">https://t.co/DhT9PpgfZt</a>— Charles Hoskinson (&#64;IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1865782995728404518?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">December 8, 2024</a></blockquote>Shortly after the hack, Cardano CEO Charles Hoskinson addressed the situation on X, <a href="https://x.com/IOHK_Charles/status/1865784520995393871" rel="noopener noreferrer nofollow">writing</a>: “Looks like the [Cardano Foundation] account got hacked.” He sarcastically added, “Try harder, hackers.”The fraudulent lawsuit message caused temporary panic among ADA holders. Many users, perceiving the apparent news as legitimate, began selling their ADA tokens.In a statement, the Cardano Foundation said its team is “actively working to restore security” and noted that a confirmation of restored access would be posted to its <a href="https://www.linkedin.com/company/cardano-foundation/posts/?feedView&#61;all" rel="noopener noreferrer nofollow">LinkedIn page</a>. “This breach of our X account does not indicate any other platforms or systems are compromised,” the statement adds.Users are advised to exercise caution and avoid clicking on any links shared by the compromised account.<h2 id="header-1">Cardano (ADA) Market Trends</h2>At press time, <a href="https://cryptosnewss.com/cardanos-hydra-sets-new-record-with-1-million-tps/" rel="noopener noreferrer nofollow">Cardano</a>, which is touted at the third gen blockchain , after Bitcoin and Ethereum, is <a href="https://coinmarketcap.com/currencies/cardano/" rel="noopener noreferrer nofollow">trading</a> at $1.179, reflecting a 2.32% dip.The fake alarm prompted panic selling, causing the 24-hour trading volume of $ADA to decrease by 24.66% to $1.70 billion. The market cap has also dropped by 2.38%, currently standing at $41.39 billion.This account breach is part of a broader wave of scams targeting Cardano users, including fake ADA reward programs that have already caused significant losses for token holders.The post <a href="https://cryptosnewss.com/cardano-foundation-recovers-x-account-after-hack-and-scam-post/" rel="noopener noreferrer nofollow">Cardano Foundation Recovers X Account After Hack and Scam Post</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Cardano Foundation Recovers X Account After Hack and Scam Post

Table of Contents

Cryptos Newss

Other articles published on Dec 9, 2024

4 Cheaper and Better Tokens to Consider Over Ripple (XRP)

MicroStrategy Acquires Additional $1.5B Bitcoin, Expands Holdings to 402,100

Riot Platforms to Issue $500 Million in Convertible Notes for Expansion

Ethereum falls to $3.8K, but are ETH traders turning bearish?

Qubetics Rises as Binance Innovates DeFi Features and Monero Solidifies Its Privacy Protocols

You Won’t Believe What 70,000 U-Rewards Can Do for You!

Join our free newsletter for daily crypto updates!