An unknown party hacked the Cardano Foundation X account on Sunday, leading to a fake announcement of the Solana token and a false disclosure of the SEC lawsuit in a later post.
Cardano Foundation X account was hacked by an unknown person on Sunday, leading to a fake announcement of Cardano-branded #Solana tokens and then false information about the SEC's lawsuit against the company.
The compromised X account was first used to publish a post that allegedly announced a #token called Adadasol, a Solana-based token that was revised due to the speed and innovation of Solana and was likely #Cardano .
Unlike some fraud attempts, this thread was written in a very sophisticated manner, with 13 posts explaining the purpose of the token and providing links to genuine resources such as the Cardano Foundation website and recent podcast episodes. The token was allegedly discussed.
According to DexScreener, the trading volume of the fake token exceeded 5,500,000 before the trader realized that the token was the result of fraud.
This post was deleted 1 hour after it was published, after which the account posted another false notification. This time it allegedly warned the Cardano community that the US Securities and Exchange Commission had filed a lawsuit against the foundation on Sunday. In light of this unexpected lawsuit, in order to ensure regulatory compliance, we have made the difficult decision to immediately discontinue support for Adaada tokens, the fake notice reads.
The disconnected message garnered over 256,000 views on X when it was published, but many tweets warned that the account had been hacked.
Read us at: Compass Investments