In an unprecedented turn of events, the Cardano Foundation’s X account witnessed a hack on Sunday. Notably, the yet-to-be-identified hacker promoted a fake token and alleged that ADA withdrawals would stop as a result of a crackdown by the U.S. SEC. In turn, the broader market saw a flurry of concerns, with even the native coin’s price showing a waning intraday movement.
Cardano Foundation X Account Faces Hack Raising Market Concerns
According to an X post by the coin’s community’s account as of December 8, “the Cardano Foundation X account @Cardano_CF has been compromised.” Further, the crypto team urged users to ignore any posts from this account whilst the team addressed the issue.
In the aftermath of the X account compromise, users on the social media platform saw a false promotion for a token named ADAsol. This false promotion bragged of a revolutionary bridge that came as a collaborative endeavor between the abovementioned entity and Solana.
Also, users on the platfor
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