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Bitcoinist

12/16/2023

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Cardano Community Member Cautions ADA Holders Against This Serious Scam

The Cardano community has remained vigilant after a member issued a crucial warning, cautioning members about a crypto scam attack targeting ADA holders.  Cardano Issues Scam Warning Alerts In its official X...

Cardano Community Member Cautions ADA Holders Against This Serious Scam

The Cardano community has remained vigilant after a member issued a crucial warning, cautioning members about a crypto scam attack targeting ADA holders. 

Cardano Issues Scam Warning Alerts

In its official X (formerly Twitter) account, the Cardano Community recently released a high-risk warning, alerting community members about an ongoing crypto scam attack operated using a malicious Berry Pool scam event. The scam alert was published on December 14 and is aimed at increasing awareness on the dangers of these malicious crypto attacks. 

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

Recent reports revealed that the Berry Pool scam event is currently luring Cardano community members and token holders with fake NFTs and false promises of ADA token rewards. 

“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, users who connected their wallets and signed transactions have already experienced losses exceeding 200k ADA,” Cardano stated. 

Following the warning, Cardano encouraged its community members to stay alert and be cautious of more crypto scam attempts from the aforementioned website. Cardano also stated that investors should always endeavor to examine transaction summaries before approving any transactions. 

ADA market cap currently at $21.876 billion. Chart: TradingView.com

Acknowledging the scam alerts, numerous community members expressed gratitude to Cardano for raising awareness and issuing the warning. Unfortunately, some community members have already fallen victim to the scam attacks, as evident by the accumulation of over 200,000 ADA tokens by the perpetrator. 

Thank you for alarming the community

— Amigos Miners Club (Minting Soon) (@AmigosMiners) December 14, 2023

Scam Attack Under Surveillance 

An X handle and Cardano enthusiast, Jabi has recently taken to the social media platform to reveal more details of the fake Berry Pool scam event targeting Cardano token holders. Jabi revealed a screenshot of the total ADA token amassed by the scam attackers.

1 day later, the thief has managed to still even more…

Everyone should be aware of this scam. https://t.co/2LLzPQ2qWX pic.twitter.com/PMhrr96Kt6

— J₳₿I (@javifs96) December 14, 2023

As per the update, the perpetrators are steadily increasing their ADA holdings, having illegally obtained 233,848 ADA worth over $143,000 at the time of the post. 

Additionally, another member of the crypto community has revealed that the scam attacker utilized a DexHunter interface with no API to swap illicitly acquired tokens for ADA. According to the community member, the attacker is yet to transfer the tokens to a Centralized Exchange (CEX).

Scammer that was exposed yesterday has stolen +160,000 $ADA with the fake berry pool / fake snek event and next fake etoro event

stake1uyhh4q40cj4taqyhxgwznxcl56tc3jk8emkr6sneg8rr6vqyn03lh

Tokens were quickly swapped for $ADA using DexHunter interface (no api as DH team… pic.twitter.com/qrXNt90c59

— elraulito (@ElRaulito_cnft) December 13, 2023

At the moment, the identity of the attacker remains undisclosed. The community member has also appealed to the perpetrators associated with the ominous phrase “scam is my passion” on the Berry Pool scam website, to promptly return the stolen tokens while there’s still time. 

Featured image from Freepiik

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Scott Matherson

Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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