Cardano Foundation X account hacked, scam links posted, then removed

On Dec. 8, the Cardano Foundation’s X (Twitter) account was hacked, leading to the promotion of a fake “ADAsol” token. The hacker falsely claimed Cardano would stop supporting ADA, generating $500,000 in trading volume before the token crashed by 99%.

Cardano founder Charles Hoskinson confirmed the breach, and the compromised posts, including one about a potential SEC lawsuit, were removed. The Foundation assured users that no other ecosystem components were affected but urged caution regarding links from its X account.

Account hacks on X are increasingly common:

• Dec 2023: Compound Finance’s account was hacked to post phishing links for fake COMP tokens.
• Oct 2023: Symbiotic, EigenLayer, and Truth Terminal AI’s accounts were compromised for scams involving fake airdrops or tokens.
• Nov 2023: Rapper Wiz Khalifa’s account was used to promote a fraudulent memecoin.

Users are reminded to remain vigilant against phishing attempts and suspicious links on social media.