Cardano Foundation announced on December 13th that it has regained control over its X account. According to the foundation’s official announcement, it has taken back control over its X account.
The platform will now start regular posting, making its normal activities resume.
The regaining of the official X account comes after Cardano faced an X account breach on December 8th.
The news of the hack had kept the prices of the native token in the red trading territory. However, despite the regaining of the control, the coin is still trading down.
Cardano Extends Thanks To Everyone Who Helped
Cardano in its official post mentioned that “Everyone who took prompt action to notify us of the problem is greatly appreciated. We would especially like to thank the Cardano community and our wider network of peers and contacts for their invaluable support.”
They added “The unauthorized content posted from this account between 8 December at 13:00 CET and 12 December at 17:00 CET was entirely unfounded and does not reflect the views or endorsements of the Cardano Foundation.
We can confirm that no other Cardano Foundation systems were affected during this incident. A comprehensive investigation is underway to identify the attacker(s), determine the root cause, and implement measures to prevent future occurrences.”
Cardano X Account Hack: What Had Happened?
On December 8, a malevolent actor gained access to the Cardano Foundation’s X account. The hacker falsely stated that the Cardano Foundation would stop supporting ADA, the native cryptocurrency of the network, and advertised a phony “ADAsol” token.
Charles Hoskinson, the founder of Cardano, acknowledged the hack on social media, but not before the phony ADAsol token quickly crashed by 99% and generated roughly $500,000 in trading volume.
As of the time of writing, the ADAsol scam post and the notice that followed about a possible SEC lawsuit had been taken down.
X Account Hacks Become Rising Concern For Crypto Community
The past two years have seen multiple X account hacks in the crypto space, raising worries about the safety and security. Out of all these hacks, the tow most notable ones included Wiz Khalifa and EigenLayer’s X account hack.
In October, the popular restaking protocol EigenLayer’s X account was compromised. The account was used to advertise a phony airdrop campaign by the threat actor.
Also Read: CHILLGUY Token Plummets 14% After Creator Philip Banks’ X Account Breach
Additionally on November 3rd, after a fake memecoin was shared with the rapper’s 35.7 million followers, it was believed that Wiz Khalifa’s X account was compromised.
The rapper had been “working with [his] team to drop $WIZ for all the crypto fam,” according to a since-deleted post made to X on November 3 by the alleged hackers who took over Khalifa’s X account.