Charles Hoskinson, the founder of Cardano, made his first public statement following the social media hacking incident that occurred on December 8. Hoskinson reiterated his call for the implementation of “verified tweets” on X (formerly Twitter) in response to the cyberattack. This proposal was brought to attention after the official Cardano Foundation X account was hacked during the weekend.
Cardano Foundation’s Account Hacked
On December 8, hackers gained access to the official X account of the Cardano Foundation and used it to promote a fake ADASOL token. This token, based on Solana and advertised with a slogan emphasizing “speed and innovation,” was disseminated through false information. Although the misleading post was removed within an hour, the attackers subsequently made a new claim. They alleged that the U.S. Securities and Exchange Commission (SEC) had filed a lawsuit against the Cardano Foundation, leading to speculation that support for the ADA token had been completely cut off. Cryptokoin.com has provided a detailed breakdown of these developments.
Following the attack, Charles Hoskinson released a statement indicating that the Cardano community would investigate the incident thoroughly. Furthermore, he hinted that federal authorities might also be involved in addressing this situation.
Hoskinson’s statement included:
“Now the fun part begins for us. Cardano (ADA) is a digital nation, and many members of our community serve in law enforcement. Let the investigation begin!”
Additionally, Hoskinson brought up the verified tweets system he first proposed in 2020, emphasizing that this system could significantly enhance platform security.
What is a Verified Tweet?
Hoskinson’s proposal relies on open-key cryptography for identity verification. This system would allow users to independently verify their own posts, while also not disrupting X’s current operating model. The proposed system would include biometric identity verification from users as part of its structure.
After a significant hack in 2020, Hoskinson presented this concept to former X CEO Jack Dorsey. At that time, Hoskinson demanded fees for the system’s development. However, with Elon Musk’s support, he is now proposing the system be implemented free of charge. This verified tweets system is expected to act as a strong defense against false information while also improving user identity security.
A Similar Hack in November
In a similar incident in November, a serious hacking event occurred on the DeSci platform Pump Science. Hackers created fake tokens in the URO and RIF altcoin projects. They also issued a security alert for the SUI-based OceansGallerie project, highlighting the risk of a potential rug pull within the platform.
These recent events underscore growing risks within crypto-related platforms and the importance of security measures, such as verified identity checks, to protect users and the broader community.
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