Cardano News Today – Top Headline for Cardano ADA, November 7th

Cardano

 

  • Cardano Foundation Facing Impersonating Acts 
  • Cardano Gold Is a Scam, Beware!

The Cardano foundation which is an independent entity devoted to promoting the Cardano project recently released a press statement to debunk and warn the ADA community about a copycat that was encroaching on the company’s trademark. The copycat cryptocurrency was termed Cardano Gold and is currently circulating in the market. The CEO of IOHK Charles Hoskinson stated that “We’ll know we made it when there’s Cardano Cash or Cardano’s Vision.” The CEO made a light joke about those copying its project, stating that copycats are what show the value of a project and that he was not bothered about other projects copying Cardano. Little did the CEO know that his previous jokes on copycats would become a reality.

A few days after Hoskinson spoke on the possibility of some projects copying Cardano’s code, the Cardano Foundation has come out to warn its users about a likely scam that was posing itself as Cardano. The foundation whose aim is to promote the Cardano blockchain used its Twitter page to notify its community of the happening. 

So far the copycat project is said to be called Cardano Gold, he reported that this copycat project has been invading and violating on Cardano’s authorized trademark. Surprisingly, the ADA community seem to be unbothered by the news, also apart from the name, no other information is known about the copycat project. The public needs to know that Cardano Gold is a sham.

Cardano Gold Is a Scam, Beware!

The copycat crypto project that is using the Cardano trademark is currently doing a crowd sale of the Cardano Gold Coin. Going by the information on its official website, the price of the coin was over $25 and is available for sale using BTC, LTC, XRP, and ETH. Although the recurrent indicating mistakes and number errors on the project’s website are indicating a red flag.

Cardano Gold alleges to provide a debit card for cryptocurrencies permitting cryptocurrency users to pay for their day to day needs with the digital asset. As seen on the company’s website: “Cardano Gold utilizes a smart comparison matrix that provides the best conversion rates to our card users.” The copycat project also alleges that it enables swift crypto conversions to USD and other fiat currencies, its native wallet also allegedly support Bitcoin, Litecoin, Ripple, Ethereum, and Dogecoin and also plans on introducing more cryptocurrencies in the near term.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.080

The project also states to have been featured on numerous media channels, but a quick investigation showed that all the publications mentioned on the Project’s website do not exist. Its company is claiming that its CEO is Enrico Campagnol, while it claims Dr. Ingo Fiedler as its blockchain advisor.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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