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HomeCrypto NewsMarketCardano Founder Issues New Scam Alert to ADA Investors

Cardano Founder Issues New Scam Alert to ADA Investors


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Hoskinson exposes a new scam scheme targeting ADA investors.

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Cardano founder Charles Hoskinson has taken to Twitter to warn the public about a scam tactic that primarily targets ADA investors. In a tweet today, Hoskinson disclosed that scammers are impersonating him and sending messages to unsuspecting ADA community members.

An unknown ADA enthusiast brought Hoskinson’s attention to the development. The user told Hoskinson that scammers were trying to impersonate him by sending emails regarding the newly launched Hoskinson Health and Wellness Clinic. It bears mentioning that the Wyoming-based medical facility will accept ADA payments.

The scammers behind the email noted that the newly launched medical center is part of Hoskinson’s vision to develop the Cardano ecosystem.

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The email talked about how not sharing medical information swiftly led to losing lives. In contrast, when medical information is easily accessible via the use of emerging technology like Cardano, it can save lives and time, the scammers noted.

“We have this project alliance as the first medical multichain on the Cardano blockchain. When such projects are at their peak, you can imagine the impact they would have on the ecosystem and life in general,” an excerpt of the email read. 

Furthermore, the scammers urged recipients of the emails to research the newly launched “medical chain” as they keep purchasing ADA coins in good faith.

Hoskinson Reacts, Shares Tip on How to Identify Scammers

Reacting to the development in a tweet, Hoskinson reminded ADA community members that he would never email them directly. He noted that malicious actors have been impersonating him using different tactics in a bid to steal funds from unsuspecting investors.

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Interestingly, he shared an exciting tactic ADA enthusiasts can adopt to identify scammers impersonating him. Per Hoskinson, ADA enthusiasts should ask the sender of such malicious emails to verify their identity with a signature from his PGP (Pretty Good Privacy) key.

For context, a PGP key is a public encryption key used to encrypt and sign emails, directories, and files.

Growing Crypto-Related Scams

It is worth noting that the entire cryptocurrency industry has witnessed a proliferation of scam activities over the years. Like other cryptocurrency projects, the Cardano ecosystem has faced its own fair share of scams.

Hoskinson and other Cardano enthusiasts have continued to expose some of these scam tactics to keep investors safe. As reported earlier, Hoskinson warned ADA enthusiasts against falling prey to giveaway scams and fake crypto-related apps on Google PlayStore.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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