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Cardano Foundation Account Hack Reveals Ecosystem Problems

Cardano Foundation Account Hack Reveals Ecosystem Problems

HappyCoinNewsHappyCoinNews2024/12/15 08:22
By:HappyCoinNews

Фонд Cardano Foundation regained control of its official account on the banned Russian social network X (formerly Twitter) after being hacked earlier this week .

The hack, which occurred on December 8, allowed scammers to promote a scam token ADASOL. The attackers also spread false statements about the Foundation, claiming that the organization was facing a lawsuit from the US Securities and Exchange Commission (SEC).

A well-known community member confirmed the problems Cardano BigPey shared an anonymous letter detailing internal problems within the Foundation. It described a brutal power struggle, attempts to discredit key players in the ecosystem, including the founder Cardano Charles Hoskinson.

In addition, the document negatively assessed such initiatives as the Catalyst Fund13 and CIP-1694, as well as disputes over the choice of location for the summit. Cardano .

On December 13, the organization's team stated that the information about problems with the regulator was not true, and other rumors were groundless.

Hoskinson was also quick to allay concerns in the community, although he acknowledged some of the ecosystem's problems. While noting progress in some areas, he criticized the Foundation's opaque decision-making processes.

The board members are not elected or appointed by the community. No one can influence or veto their decisions and policies. And there seems to be a lot of animosity towards me personally within the organization. In a decentralized ecosystem, you can't hide anything forever. Everything comes out.

Hoskinson noted that the Foundation's board operates independently and is not accountable to the community, and expressed disappointment at its resistance to collaborative efforts such as Intersect's governance initiative.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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