Looks like the eleventh largest cryptocurrency, Cardano is now been targeted by scammers. Weiss rating and co-founder of Cardano cryptocurrency or ADA warned users against the scam coin similar to name Cardano. In fact, it is named as ‘Cardano Classic’.
ADA Scam Detected – Beware
Accordingly, Charles Hokinson released a caution notice on social media. Addressing to so-called Cardano Classic as a scam, Charles says that;
They have no relationship to our project and if you give them money you will likely lose it.
Cardano Classic is a scam. They have no relationship to our project and if you give them money you will likely lose it. Beware anyone trying to borrow a name for legitimacy pic.twitter.com/1Usu9wjw9k
— Charles Hoskinson (@IOHK_Charles) January 24, 2019
Beside the co-founder, Weiss Ratings also cautioned users against the scam coin. However, there seems no relation between Cardano and Cardano Classic but the name of the coin sounds more like stealing Cardano’s authority for a marketing stunt.
SCAM ALERT: A new “crypto” has surfaced, called Cardano Classic. It has no connection whatsoever to the real #Cardano. Beware #CardanoClassic scam! When scammers are trying to mimic your coin – that’s a sign of popularity. #ADA #altcoins #crypto #cryptocurrency
— Weiss Ratings (@WeissRatings) January 25, 2019
At present, Cardano (ADA) is the eleventh largest cryptocurrency, stands just a step back from Bitcoin SV which is on tenth spot. According to the data from coinmarketcap, ADA holds the average marketcap of $1,120,359,390 with a positive mark of 1.65 percent over the past 24 hrs.
As per the reports, Cardano Classic team intends to create an ‘open-source online royalty payment model’. Beside resource claims its team members profiles as a fake profiles, the scam project has also been suspended on Twitter.
Stay tuned with Coingape to be updated with latest updates on crypto industry.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com