- Unknown hackers gained access to the Cardano Foundation’s X account on Sunday, resulting in a phony announcement of a Solana token and, in a subsequent post, a fraudulent disclosure of an SEC complaint.
- The Cardano Foundation acknowledged the stolen account in a statement and pledged to issue an announcement on its LinkedIn page once access was restored.
An unidentified entity compromised the Cardano Foundation’s X account on Sunday, resulting in the fictitious launch of a Cardano-branded coin on Solana and, subsequently, the fictitious publication of an SEC complaint against the business.
A thread allegedly announcing the release of $ADASOL, a Solana-based token redesigned for Solana’s speed and inventiveness, was initially posted using the hacked X account.
With thirteen postings outlining the token’s function and providing links to authentic sources, including the Cardano Foundation’s website and a recent podcast episode that allegedly covered the token, the thread was written in a more sophisticated manner than some hoax attempts.
Before traders seemed to recognize that the token was a hoax, DexScreener reports that the bogus token saw over $500,000 in trading activity.
An hour after the post was taken down, the user published another fictitious notice, this time purporting to alert Cardano’s community that the Foundation had received an SEC lawsuit on Sunday. We have taken the painful decision to immediately stop supporting the $ADA coin in order to ensure compliance with regulatory obligations in light of this unexpected legal action.
As of publication, the post—which has disabled replies—had received over 256,000 views on X, despite several quote-tweets alerting users to the account’s compromise.
A Cardano Foundation team lead responded, “Confirmed, we’re on it,” in response to a Cardano fan’s question about the notice’s authenticity. The Cardano Foundation X account @Cardano_CF has been compromised, the Cardano Community X account subsequently stated. While we take care of this, kindly disregard any posts from the account.
The Cardano Foundation said in a statement that its staff is working hard to restore security and that it will provide a confirmation on its LinkedIn page once access has been restored. Our X account’s hack does not suggest that any other systems or platforms are affected.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
