Cardano (ADA) Community Issued Critical Warning; What It Pertains To

The Cardano community has been alerted to a new scam that targets the community, aiming to steal crypto assets.

As shared by the Cardano Community X account, the scam intending to steal funds promises fake ADA rewards through a fake rewards event.

Warning: Scam Alert ⚠️⚠️

We want to bring to your attention that some Berry Pool delegators have received an NFT promising additional ada rewards through a deceptive/fake rewards event.

Please be cautious as the associated website has been identified as a scam. Unfortunately,… https://t.co/tfKTEoTlBE

— Cardano Community (@Cardano) December 14, 2023

A Cardano user pointed out that the scammer had lured unsuspecting users on the grounds of a fake Berry Pool, Snek or Etoro event. The scam poses a major threat to Cardano holders and has already resulted in the loss of ADA funds for affected users.

The Cardano community X account brought this to the attention of ADA holders, stating that some Berry Pool delegators received an NFT promising additional ADA rewards through a deceptive or phony rewards event.

The scam requests that users connect their wallets to claim additional rewards by clicking a malicious link on a scam website.

Cardano users are urged to be cautious as the associated website has been identified as a scam, with impacted users who connected wallets and signed transactions losing more than 200,000 ADA.

As a result, Cardano users and ADA holders are reminded to always examine transaction summaries before signing any transactions to safeguard the security of their assets.

Users should also use caution and vigilance when interacting with any online communication and adhere to best practices for protecting their wallets and devices.

In a positive development, the Cardano Foundation has launched innovations as the year comes to a close. The Cardano Foundation has announced the opening of a Cardano store accepting ADA payments.

Earlier this week, Identity Wallet, a W3C-compliant mobile wallet that manages self-sovereign identities across Cardano and other blockchain networks, was also released.

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