New Cryto Scam Caught & Suspended on Social Media – Founder Warns Users

By Tabassum
Published January 26, 2019 Updated January 26, 2019
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New Cryto Scam Caught & Suspended on Social Media – Founder Warns Users

By Tabassum
Published January 26, 2019 Updated January 26, 2019

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

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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.

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.

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.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Tabassum
562 Articles
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

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