cryptojournalist
On December 8, scammers hacked the Cardano Foundation’s X account, spreading fake news and promoting a fraudulent token called “ADAsol.” They claimed the Foundation would stop supporting Cardano’s native token, ADA, due to a supposed lawsuit from the SEC.
Charles Hoskinson, Cardano’s founder, confirmed the breach. Unfortunately, before the fake posts were taken down, the ADAsol scam racked up $500,000 in trading volume, only to crash by 99%. The Foundation is fixing the issue, but users are warned to avoid clicking any links from the account for now.
Social Media Hacks Are on the Rise
X account hacks have become a troubling trend, with scammers targeting major platforms and stealing funds through fake links.
Compound Finance (Dec 2023): Hackers used its X account to share phishing links mimicking its website, tricking users into buying fake COMP tokens.
Symbiotic Protocol (Oct 2024): Attackers posted fake airdrop checklists that led to phishing sites, stealing tokens from users’ wallets.
Eigenlayer (Oct 2024): The compromised account pushed a fake airdrop campaign to lure victims.
Truth Terminal AI (Oct 2024): Scammers used this account to promote a fraudulent memecoin.
Wiz Khalifa (Nov 2024): The rapper’s account was hacked to advertise a fake “WIZ” memecoin, falsely linked to him.
These incidents highlight the need for caution when interacting with social media posts, especially those promising free tokens or rewards.
