CandleFocus Cardano Foundations’ X Account Hack; Fake Token Promoted
2024-12-09
Author: Content Editor
The official Cardano Foundation X (formerly Twitter) account was hacked, with attackers spreading false information about a lawsuit by the SEC against Cardano (ADA) and promoting a fraudulent token. Cardano CEO Charles Hoskinson addressed the situation and stated that the account had been hacked. The false lawsuit message caused panic among ADA holders, leading to temporary selling of tokens. The Cardano Foundation team is actively working to restore security, and users are advised to exercise caution. The hack resulted in a decrease in ADA's trading volume and market cap. This breach is part of a wider trend of scams targeting Cardano users.
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