Cardano’s Chang hard fork, which went live on September 1, set the stage for a decentralized governance system, paving the way for users to take control of the network eventually. While the upgrade introduced protocol changes, it did not affect ADA tokens themselves.

However, a month later, scammers are taking advantage of the uncertainty introduced by the hard fork. ADA holders have reported receiving fraudulent emails about a Chang hard fork token migration. No such migration exists.

Fake Cardano Migration 

Following the Chang hard fork, some Cardano holders have received fraudulent emails on migrating to a new version 2 ADA token. These emails falsely claim that migrating to the new token is required to continue using the Cardano ecosystem.

The scam email includes a link to a website where users are prompted to begin the fake migration process. Once on the site, they are instructed to connect their wallets for a “smooth transition,” which is a thinly veiled attempt to gain unauthorized access to funds.

The scammers introduced a sense of urgency by warning that the token migration window is open for 30 days, after which unmigrated ADA will not be supported.

Potential Data Leak

The extent of the reach of this scam email campaign remains unclear at this time. According to Cardano DRep “InputEndorsers,” it is also unknown how the scammers obtained the email addresses used in this attack. 

Token distribution platform DripDropz has reassured the community that there are no changes to the ADA token and strongly advised against interacting with the fraudulent email.

Crypto users are reminded to be cautious of unsolicited emails urging them to click on links or visit websites. 

For added security, it is recommended that you use a separate device dedicated solely to crypto transactions, which will minimize exposure to potential threats.

Source : DailyCoin - Oct 3, 2024