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Cardano’s ADA faces turmoil amidst social media hack

Misleading ADA warning spread: Cardano users were misled by a false alert about a trading halt on ADA tokens. this misinformation emerged after the Cardano foundation’s social media account was hacked. users were tricked into believing a fake SEC lawsuit would result in all ADA tokens being burned.

Ceo addresses social media hack: ceo charles hoskinson addressed the social media hack affecting Cardano’s reputation. he urged hackers to ‘try harder,’ highlighting the weak security measures of social platforms like x. the incident adds to regulatory challenges faced by the crypto industry, especially given ADA’s scrutiny by the SEC.

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