Cardano was relatively safe space compared to other networks, but scammers are slowly getting to it
The announcement we saw a few hours ago about the launch of the Midnight Cardano sidechain is not what users might think. The instructions presented in the post are nothing but a step by step guide to send your funds hackers,
Cardano community members quickly found out that the announcement was a honeypot, and the account that was sharing tried to steal funds with the help of a similar scheme by impersonating popular Cardano community account Cardano Whale. The scammer used the popular handle to attract users and then make them send their assets to various addresses in exchange for rewards.
In this case, the scammers urge users to create a Cardano wallet and send funds from CEX to the wallet, and then exchange ADA to Midnight Token on a website provided. Obviously, once they are exchanged, users’ ADA will be gone forever without the ability to get them back.
Users are not happy
In the last 48 hours, Elon Musk has been actively teasing a massive ban wave that will remove a major portion of bots and zombie accounts from the platform. However, cryptocurrency scammers and bots that fill the comments sections have not gone anywhere, which raises a lot of questions.
However, Musk’s intent to end the reign of bots and scammers on Twitter could turn out to be a long-term battle rather than a one-ban wave that’s clearing up the space. Networks like Cardano are seeing an increase in scammers and illegal activities as the growth of the ecosystem continues to increase.
At press time, the honeypot account is still active despite the number of reports users have sent in the past few days. Unfortunately, it is not clear whether those accounts will be banned or not as they are most likely being managed by hand.
