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Charles Hoskinson Warns Against The New ADA Scam


The founder of Cardano blockchain (ADA), Charles Hoskinson, alarms users of the activities of scammers impersonating him.

Also, Hoskinson posted on Twitter that he would never email anyone directly.

Hoskinson Notified about Identity Impersonation

A Cardano fan informed Charles Hoskinson about his identity being impersonated by some scammers.

Also, he stated that the scammers use Hoskinson’s identity in sending emails to the potential Cardano community.

READ ALSO: Atomic Wallet Hack Alarm: Users Lose Up To $35 Million

Noting that they are sending emails with information concerning Hoskinson’s newly established Health and Wellness Clinic.

Furthermore, the Cardano fan noted that the email contains information on how the medical facility will adopt ADA as a means of payment.

Charles Hoskinson’s Identity Verification Guide

Hoskinson shared information on how he could be identified after being informed about scammers using his identity for scam attempts.

However, he stated that anyone who receives a message bearing his identity should ask the sender to run a verification test through his PGP (Pretty Good Privacy) key.

Notable Crypto Scams in 2023

The cryptocurrency industry has scam challenges as one of its loopholes and it deems that investors should be extremely cautious.

Moreover, cryptocurrency also referred to as digital currency or virtual asset is decentralized, limiting central authorities to detect and stop fraudulent events in the system.

The virtual asset industry provides interesting features which scammers leverage to create deceptive crypto projects.

Also, Federal Trade Commission has reported that between January 2021 and June 2022, many investors lost more than $1 billion in crypto.

Furthermore, these crypto scammers deploy different strategies to lure their victims and steal from them.

Crypto scams are launched in various ways with development in the industry and below are some of the notable crypto scams in 2023.

  • Impersonation crypto scams

Some crypto scammers leverage crypto adoption by firms as means of payment to steal from people.

However, they claim they are from a notable firm to convince their potential investors as they gain credibility using the firm.

Also, they could say they are carrying out a security investigation and your account is frozen, urgent payments through crypto are required to finish the investigation.

  • Pump and dump crypto scam

This happens when people campaign about a particular crypto project.

They work hard to push the price, when the price goes up, they sell all to cash out and dump the project into the hands of new investors, who just purchased the coin or token.

  • Fake crypto exchanges scam

Some scammers come up with a crypto exchange project promising some great features to trade virtual assets after potential investors might have made deposits.

They will shut down the project and run away.

  • Blackmail and Extortion Crypto Scams

Crypto scammers send blackmail messages via email or social media to people.

And claim they have records of unlawful websites or security information against a potential victim.

They threaten to publicize the information unless the affected person sends cryptocurrency or shares access information on the crypto wallet.








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