Key takeaways
- The Cardano Foundation tweeted that it had been served with a lawsuit by the SEC, which was soon identified as a false claim by hackers.
- Hackers also wrote about a fake Cardano token on Solana.
The Cardano Foundation’s official X social media account has been under attack, with hackers posting false information about an alleged SEC lawsuit against the organization and promoting a fraudulent token.
The hackers first claimed that Cardano released a new token on the Solana blockchain, which was soon discovered to be a scam token. At the time of reporting, the post advertising this token had been removed.
Following this, the compromised account shared an unverified statement claiming that the US SEC had opened a lawsuit against the organization. As a result of this legal action, they have decided to end all support for the ADA token to ensure compliance with regulatory requirements.
Users are advised to exercise caution and not click on any links posted by the compromised account.
These false claims sparked uncertainty in the Cardano community, affecting ADA’s market performance. The token’s price fell 4% to $1.18 during the incident, according to CoinGecko data.
The account breach occurred against a backdrop of ongoing fraud targeting Cardano users, including fake ADA rewards programs that have caused losses for token holders.
