Fraudsters claimed that Cardano would stop supporting ADA due to a lawsuit filed against the project by the US Securities and Exchange Commission (SEC). Therefore, they encouraged subscribers to invest in the fake ADAsol token. The scammers managed to collect about $500,000 from gullible users, after which the token collapsed by 99%.
Cardano founder Charles Hoskinson confirmed the hack. The fraudulent posts from the Cardano Foundation account have already been removed. The Cardano ecosystem was not affected by the hack, but users are advised to exercise caution and not click on suspicious links.
In December 2023, the DeFi Compound Finance protocol also became a victim of hackers – they hacked its page on the X social network by posting phishing links. Users were redirected to a website that imitated the official Compound Finance website, where fake COMP tokens were sold.
According to Atlas VPN, Cardano users are the most likely to experience phishing attacks. Researchers explained this by saying that scammers are taking advantage of Cardano’s desire to push Ethereum out of the market.
Source: Bits
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