Cardano Foundation Hack: Fake News Causes Concern and 3% ADA Price Drop

The post Cardano Foundation Hack: Fake News Causes Concern and 3% ADA Price Drop appeared first on Coinpedia Fintech News

On Sunday, Cardano Foundation’s official X was compromised and there were some posts featuring fake news and others encouraging fake tokens ADAsol. The hacker fabricated that the U.S. SEC crackdown resulted in ADA withdrawal suspension and caused some concern among Cardano users. In response, the Cardano team posted to inform netizens not to pay attention to any posts claiming to be from them while they sorted the breach. In the aftermath of the hack, ADA’s price dropped intraday by 3%, an indication of the market flapping.