Cardano Foundation Hack: Fake News Causes Concerns, ADA Price Drops 3%

On Sunday, the Cardano Foundation’s official X was compromised and there were some posts with fake news and others promoting fake ADAsol tokens. The hacker fabricated that the US SEC crackdown had resulted in the suspension of ADA withdrawals, causing some concern among Cardano users. In response, the Cardano team posted to inform netizens to disregard any posts claiming to be from them while they fix the breach. Following the hack, the ADA price dropped 3% intraday, indicating a market volatility.