Hoskinson’s ‘I Will Find You’ Stance After Cardano Foundation Hack

Cardano Foundation account hack sparks $500K fraud through false ADAsol token promotion ADA falls 4.63% to $1.14 while trading volume rises amid market panic Cardano dismisses false claims and confirms ADA remains the foundation of its network On December 8, the Cardano Foundation’s X account was hacked in a security breach that misled users and affected market sentiment. The attacker used the account to promote a fraudulent release of the ADAsol token, falsely claiming the Foundation would discontinue support for its native token, ADA, due to an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC). These false assertions led to $500,000 in trading volume before the Foundation regained control of the account. BREAKING: The #Cardano Foundation X account has been hacked. False information about a #lawsuit and token support cessation is being spread. Stay safe and informed. #Coinedition #ADA #Breaking pic.twitter.com/6ikMnfLUTM — Coin Edition: Your Crypto News Edge (@CoinEdition) December 8, 2024 The Foundation clarified that ADA remains central to its ecosystem and dismissed the misinformation. It also assured the community that c… The post Hoskinson’s ‘I Will Find You’ Stance After Cardano Foundation Hack appeared first on Coin Edition .

Source: Coin Edition