The Cardano Foundation’s Damaged by the actor. secretary).
Cardano founder Charles Hoskinson confirmed the hack in a social media post, but not before the fraudulent ADAsol token generated about $500,000 in trading volume and plummeted 99%.
Both the ADAsol scam post and notice of the SEC’s impending lawsuit have been removed as of this writing.
The Cardano Foundation is working to fix the compromised accounts and no other parts of the Cardano ecosystem were affected by the hack. Nonetheless, users should exercise caution and not click on links to Cardano Foundation X accounts until further notice.
This is one of the fraudulent posts from the hacked Cardano Foundation X account. source: Zack
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X account hacking is too common
The Cardano Foundation is not the only organization that has experienced threat actors defacing its social media pages and posting deceptive links.
In December 2023, Compound Finance’s X account was hacked. Malicious actors used social media pages to post phishing links to sites that looked almost identical to the protocol website and advertised fraudulent COMP tokens. Clicking on one of the links results in cryptocurrency being leaked from unsuspecting users.
Symbiotic, a re-staking protocol, experienced an X account hacking in October 2024. Hackers posted a checklist that they claimed gave users points for interacting with posts, similar to the Airdrop checklist. The link led to a phishing site that stole legitimate Symbiotic tokens from your wallet.
The X account of the popular re-staking protocol Eigenlayer was compromised in October 2024. Threat actors used these accounts to promote fake airdrop campaigns.
The founder of the Truth Terminal AI account was also hacked on October 29th. Hackers took over the account to promote fraudulent meme coins.
More recently, in November 2024, rapper Wiz Khalifa’s X account was hacked to create a fake celebrity meme coin called WIZ. The tokens were offered to users as the musician’s legitimate memecoin, but were not associated with Khalifa in any way.
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