Cardano Foundation Regains Complete Control After X Account Breach

  cryptonewsz.com 1 h

The Cardano Foundation through their X platform have confirmed that the team has regained the full control of their X (formerly known as twitter) account following an incident of unauthorized access. The breach occurred between December 8 at 13:00 CET and December 12 at 17:00 CET. Unauthorized content was posted from the account which confirmed the compromised status of the account.

Cardano Foundation has regained full access of its X Account (Source: X Post)

False Claims posted through Cardano Foundation’s Compromised X Account

The unauthorized content posted from the compromised account included false claims about an SEC lawsuit against the organization. The hackers went on to post a message stating that the Foundation would cease all support for its native cryptocurrency, ADA, due to the alleged lawsuit.

Moreover, fake token was promoted named “ADAsol” which according to the post, was the successor of ADA. The hackers also announced a fake token that gained market cap of over $500,000 within an hour of posting. After all of this, the Foundation quickly addressed the breach and asked users to ignore the posts.

Cardano Regains Full Control of its X Account

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Today on December 13, Foundation finally confirmed that they have regained the full control of the X account and expressed their gratitude to its community and their network for swift action in reporting the breach. “We greatly appreciate all of those who acted quickly to alert us of the issue. A special thanks goes to the community and our broader network of contacts and peers for their invaluable support.” the Foundation stated in the X post.

Since the breach was limited to their X account, no other Cardano systems were affected. A comprehensive investigation is in the process to identify the hackers, get to the root cause and strengthen the security measures to prevent such situations in the future.

To reassure its users, the Foundation authenticated its statement with one of the Interim Constitutional Committee (iCC) hot keys, allowing verification via the Cardano message verification tool.

This incident had no impact on Cardano’s native cryptocurrency, ADA. No significant price drop or volatility was reported. At press time, the price of the ADA token stands at $1.09 as per CoinGecko.

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