Cardano price recently faced a sudden drop after becoming too overbought. This led to a quick flash crash, causing concern among investors. On the other hand, DTX Exchange has been showing strong performance, with an impressive 300% increase in value.
While Cardano struggles with its price movements, DTX is gaining traction and standing strong in the market. In this article, we will discuss what happened with Cardano, the rise of DTX Exchange, and what it means for investors.
Cardano Foundation’s X Account Hacked
On December 8, someone hacked the Cardano Foundation’s Twitter (X) account. The hacker shared a fake cryptocurrency called “ADAsol” and wrongly said that the Cardano Foundation would stop supporting Cardano’s main cryptocurrency, ADA.
Charles Hoskinson, the creator of Cardano, confirmed the hack in a social media post. Before the fake ADAsol token was discovered, it had about $500,000 in trading. However, its value dropped by 99% very quickly.
Both the fake ADAsol post and another message about a possible SEC lawsuit have been removed since then. The Cardano Foundation is fixing the hacked account and says that no other parts of the Cardano system were affected. Even so, users should be careful and avoid clicking on any links from the Cardano Foundation’s Twitter account until everything is safe again.
Hacks of Other X Accounts are Common
The Cardano Foundation isn’t the only group that has had their Twitter accounts hacked. Many other organizations have faced similar problems where hackers post fake links and information.
December 2023: Compound Finance’s Twitter was hacked. The hacker shared fake links that looked like the real website to promote fake COMP tokens. If people clicked these links, their cryptocurrency could be stolen.
October 2023: Symbiotic, a restaking service, had their Twitter account hacked. The hacker posted a fake checklist for an airdrop, claiming users could earn points by interacting with the post. The links led to fake websites that stole real Symbiotic tokens from wallets.
October 2023: EigenLayer, another restaking service, had their Twitter account hacked. The hacker promoted a fake airdrop campaign.
October 29, 2023: The founder of Truth Terminal AI’s Twitter was hacked. The hacker used the account to advertise a fake memecoin.
November 2023: Rapper Wiz Khalifa’s Twitter was hacked. The hacker promoted a fake celebrity memecoin called WIZ, falsely claiming it was connected to Khalifa.
The Cardano price is trading at lows around $1.10 USD, with a 24-hour trading volume of approximately $1.84 billion USD. Cardano price has decreased by 8.83% over the last 24 hours. It is ranked #9 on CoinMarketCap, with a live market cap of around $38.67 billion USD.
DTX Exchange: Bridging Finance with DeFi and Offering Early Opportunities at $0.12!
DTX Exchange (DTX) is a new DeFi coin that’s being called one of the biggest projects of the year. What makes it unique is how it connects traditional finance (TradFi) with decentralized finance (DeFi). The platform uses a special Layer-1 blockchain called VulcanX that will combine regular financial tools with DeFi products, making it appealing to a broader audience.
The platform is also working on a smart system to track its token minting and burning. This means that every time tokens are created or destroyed, the system will log these actions and make sure everything matches the collateral pool. They’re improving the backend script to make sure that the smart contract token supply correctly reflects the ETF holdings in custodial accounts, keeping everything in balance.
Another feature they’re working on is dividend management. They’re exploring ways to automatically convert dividends into stablecoins, which will then be sent directly to token holders. The amount each user receives will depend on how many tokens they hold when the payout is made.
The presale of DTX tokens is in its sixth round, with each token priced at just $0.12. So far, the presale has raised over $9.9 million, making it a great chance for people to get in early.
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