The Cardano Foundation X account was hacked, fraudulent links were posted, then removed
The Cardano Foundation's X account was defaced on December 8 for promoting a fake “ADAsol” token and announcing that the Cardano Foundation would end support for Cardano's native token ADA (ADA) following a lawsuit from the Securities and Exchange Commission. SEC)
Cardano co-founder Charles Hoskinson confirmed the hack in a social media post, but not before the fraudulent ADAsol token generated roughly $500,000 in trading volume, and a rapid 99% recovery.
Both the ADAsol scam post and the notice of pending litigation from the SEC have been removed at the time of this writing.
The Cardano Foundation is working to repair the compromised account, and other parts of the Cardano ecosystem were not affected by the hack. Despite this, users should exercise caution and not click on any links from the Cardano Foundation X account to further advertising.
One of the fraudulent posts from the compromised Cardano Foundation X account. Source: ZackXBT
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X account hacking is all too common.
The Cardano Foundation is far from the only entity that practices threat actors defacing social media pages and posting fraudulent links.
In December 2023, Compound Finance's X account was hacked. The malicious actor used his social media page to post phishing links to a site that looked similar to the protocol's website and promoted fraudulent COMP tokens. Clicking on any of the links will delete crypto from unsuspecting users.
Symbiotic – Resuscitation Protocol – In October 2024 the X account was hacked. The hacker posted a checklist saying he would give points to users for interacting with the post – just like Airdrop checklists. The links lead to a phishing site that steals legitimate symbiotic tokens from wallets.
The popular recycling protocol Eigenlayer's X label was deprecated in October 2024. The threat actor used the account to promote a fake airdrop campaign.
The founder of the Truth Terminal AI account was also hacked on October 29. The hacker took over the account to market fake memecoin.
Most recently, in November 2024, rapper Wiz Khalifa X's account was hacked by a fake celebrity memecoin scam called WIZ. The token is presented to users as a legitimate memecoin from the music artist but is in no way connected to Khalifa.
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