Cardano Scam Emails Target ADA Holders After Chang Hard Fork

After Cardano's Chang hard fork went live on September 1, a wave of scam emails began targeting ADA holders, falsely claiming a need for a token migration

A recent wave of scam emails has been targeting ADA holders following the activation of the Cardano Chang hard fork on September 1. These emails falsely claim that a token migration is needed to a new “version 2 ADA token.”

The emails are designed to trick users into thinking that they need to migrate their ADA tokens to a new “version 2 ADA token” in order to continue using the ecosystem. The emails falsely state that this migration is mandatory and direct recipients to a phishing website where they are prompted to connect their crypto wallets.

The scam essentially tries to trick users into giving up control of their wallets under the guise of a forced migration. Once on the fake website, victims are told to complete the migration process by connecting their wallets, which allows the scammers to gain unauthorized access to their funds.

The email tries to create a sense of urgency by falsely claiming that users only have 30 days to complete the token migration. It warns that after this period, their ADA tokens would supposedly become worthless. This is completely misleading, as the Chang hard fork did not require any migration or changes to the ADA tokens themselves.

The community has responded to this scam. DripDropz, the Cardano token distribution platform, confirmed that there were no changes made to the ADA token and warned users to disregard any fake emails.

Cardano delegates, like InputEndorsers, have raised concerns, though the origin of the scammer’s email list remains unknown, sparking worries about a possible data breach.

To stay protected, ADA holders are advised to stay vigilant, avoid clicking on any unsolicited links, and make sure to use separate, secure devices for any cryptocurrency transactions. These precautions can help minimize exposure to such phishing attacks and potential scams.

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