**Cardano Foundation's X Account Hacked, $500,000 in Fake Trading Detected**

The Cardano Foundation recently faced a security breach when its X account was hacked. The attackers posted false claims, including a fictitious SEC lawsuit and the cessation of ADA support, promoting a fraudulent "ADAsol" token. This led to over $500,000 in fake trading before the scam was halted. Fortunately, the misleading posts were swiftly removed, and no other part of Cardano's ecosystem was compromised.

**SEC Reference Used to Deceive**

To lend credibility to their scam, hackers referenced the SEC, suggesting legal troubles for Cardano. This initially misled some users due to past SEC scrutiny. However, founder Charles Hoskinson promptly debunked these claims, reassuring stakeholders of ADA's unaffected status.

**Cardano's Resilience and X's Security Concerns**

Despite the incident, Cardano's market position remained stable, reflecting community trust. The hack also underscores recurring security issues with X, raising concerns about its capability to safeguard major accounts. This incident serves as a cautionary tale for the crypto community to remain vigilant against similar threats.