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

Published 09/12/2024, 12:50
Updated 09/12/2024, 13:15
Hoskinson’s ‘I Will Find You’ Stance After Cardano Foundation Hack

Coin Edition -

  • 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.

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