Cardano Founder Alerts ADA Investors of a New Scam Scheme

Cardano Founder Alerts ADA Investors of a New Scam Scheme

Charles Hoskinson, the founder of Cardano, has warned the public on Twitter today of a new scam that preys on ADA investors. Hoskinson said that fraudsters are using his likeness to send unwary members of the ADA community messages.

Hoskinson was alerted to the development by an unidentified ADA fan. The user complained to Hoskinson that fraudsters were posing as him and sending emails about the recently opened Hoskinson Health and Wellness Clinic. It is important to note that the medical facility in Wyoming will take ADA payments.

The email’s senders claimed that Hoskinson’s plan to grow the Cardano ecosystem includes the recently established medical centre. The email discussed how losing lives resulted from slow medical information exchange. The scammers pointed out that lives and time can be saved when medical information is readily available via cutting-edge technology like Cardano.

Accordion to an excerpt from the email, “We have this project alliance as the first medical multichain on the Cardano blockchain. When such projects are at their peak, you can imagine their impact on the ecosystem and life in general.” Additionally, the fraudsters advised email recipients to do their research on the recently established “medical chain” as they continued to buy ADA tokens in good faith.

Related Reading: Cardano Price Struggles Despite Improvements in Fundamentals

Charles Hoskinson’s Reaction

Hoskinson responded to the development by telling the ADA community he would never email them directly. He stated that nefarious individuals have been using various guises to impersonate him to defraud unwary investors of their money.

He interestingly provided ADA supporters with a fun technique they can use to spot con artists posing as him. Hoskinson advises ADA supporters to request a PGP (Pretty Good Privacy) signature from the sender of such phishing emails to confirm their identity. A PGP key is a public encryption key that may be used to sign and encrypt files, folders, and emails.

It is important to note that throughout the years, fraud activities have increased throughout the entire Bitcoin business. Like other cryptocurrency initiatives, the Cardano ecosystem has experienced its fair share of scams.

Hoskinson and other Cardano supporters have continued exposing some scam techniques to protect investors. As previously mentioned, Hoskinson cautioned supporters of the ADA not to fall for giveaway scams and fake cryptocurrency-related apps on Google PlayStore.

Read Also: Cardano Developer Reveals Ambitious Vision: What to Expect

Share this :