Cardano Foundation and Charles Hoskinson address a purported ADA scam in China

Published on by Cryptoslate | Published on

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According to the individual that shared it, the video shows a group of "Farmers" being shilled Cardano and ADA. Michael "Boxmining" Gu, a cryptocurrency Youtuber and podcaster, corroborated this.

No reliable translations of the video have been produced, but an important note to add is that the individuals speaking at the front are wearing Cardano-branded t-shirts and are using an image of Charles Hoskinson.

Nearly all of Crypto Twitter has acknowledged that this is a scam with no affiliation with any official parties related to Cardano.

To assure that there are no confusions, Hoskinson and the Cardano Foundation have clarified.

Cardano Foundation and Charles Hoskinson respond to seeming ADA scam.

"This is an unaffiliated 3rd party meetup. We're glad to see there's interest in Cardano all over the globe, but please beware of scams! If you're interested in a list of approved meetups, you can always check our forums."

Hoskinson doubled down on this in a 20-minute video response entitled "On Scams and Illegal Activity."

"You work five years on something, you put your heart and soul into it, you just have a giant event that 10,000 people attend. Then you see floating around Telegram, Twitter, some video - some scammers in China using my face, our company's logo, the Cardano Foundation's logo who have absolutely no affiliation with us."

This purported unaffiliated meetup/scam comes as Cardano has been the beneficiary of a surge in adoption and the price of its native cryptocurrency, ADA. ADA has moved above $0.10 for the first time in over a year, CryptoSlate data shows.

If you talk to the supporters of smart contract projects such as Cardano, Tezos, EOS, and Tron, they will say that their respective blockchains are the best.