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Cardano Founder Thwarts Scam Attempt by Impersonator of Solana's Founder Anatoly Yakovenko

The imposter's account was verified, adding a deceptive layer of legitimacy to the impersonation.
Cover Image Source: Cardano founder thwarts scam attempt by impersonator of Solano's founder (representative image) | Unsplash | Photo by Traxer
Cover Image Source: Cardano founder thwarts scam attempt by impersonator of Solano's founder (representative image) | Unsplash | Photo by Traxer

Charles Hoskinson, the founder of Cardano, recently uncovered a scam attempt by a fraudster impersonating Solana founder Anatoly Yakovenko. Hoskinson shared a recorded chat conversation on his official platform, revealing how he interacted with the fake Anatoly who tried to lure him into visiting a website to claim tokens, per U.Today.


The interaction began when the imposter, posing as Anatoly, contacted Hoskinson, asking if he had claimed a 20% reward on his TrueUSD balance. Instead of immediately blocking the scammer, Hoskinson played along, feigning interest in claiming the rewards. As the conversation progressed, the fake Anatoly directed Hoskinson to a website where he could supposedly claim the rewards by clicking on a button labeled Claim Reflections and following the subsequent instructions. However, Hoskinson's probing questions quickly exposed the scam. He questioned why he couldn't claim the rewards directly from his wallet, prompting vague and unconvincing responses from the fraudster. Notably, the imposter's account was verified, adding a deceptive layer of legitimacy to the impersonation.

Unsplash | Photo by Kanchanara
Unsplash | Photo by Kanchanara

Solana is a blockchain platform designed to provide high-speed and scalable decentralized applications (dApps). Founded by Anatoly Yakovenko, Solana aims to address the scalability challenges faced by existing blockchain networks, such as slow transaction speeds and high fees. Solana utilizes a unique combination of technologies, including a Proof of History (PoH) consensus mechanism and a Byzantine Fault Tolerance (BFT) consensus algorithm, to achieve fast transaction processing and low latency. This architecture enables Solana to handle thousands of transactions per second, making it well-suited for applications requiring high throughput, such as decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming. Cardano distinguishes itself through its scientific approach to development, which emphasizes peer-reviewed research and formal verification techniques to ensure security and scalability.

Unsplash | Photo by Amjith S
Unsplash | Photo by Amjith S

As a co-founder of Ethereum, Hoskinson played a key role in its early development before parting ways to focus on building Cardano. With a vision to create a more inclusive and sustainable financial system, Cardano aims to provide a secure and scalable infrastructure for decentralized applications and smart contracts. Cardano is a blockchain platform that aims to offer a more secure, scalable, and sustainable infrastructure for decentralized applications and smart contracts. Developed by Input Output Hong Kong (IOHK), Cardano leverages a layered architecture and a consensus mechanism called Ouroboros to achieve these goals. One of Cardano's key features is its focus on interoperability, allowing seamless communication and interaction with other blockchain networks. Additionally, Cardano places a strong emphasis on sustainability and environmental friendliness by utilizing a proof-of-stake (PoS) consensus mechanism which consumes significantly less energy compared to proof-of-work (PoW) systems like Bitcoin.


In a similar incident, YouTube became a platform for yet another high-profile giveaway scam, this time targeting viewers during a solar eclipse live stream. Exploiting the interest in celestial events, malicious actors set up multiple giveaway scams, with one verified account posing as SpaceX's official channel. The hoax, titled "Live: Solar Eclipse Spectacular 2024 of SpaceX" garnered significant attention, drawing unsuspecting viewers into a cryptocurrency scam. Adding to its facade of legitimacy, the scam featured a deepfake video of Tesla billionaire Elon Musk, who purportedly endorsed the cryptocurrency incentive. In the video, the deepfake Musk encouraged viewers to scan a QR code on the screen to deposit crypto and double its value. However, the QR code directed participants to a website displaying wallet addresses controlled by the scammers, accepting Bitcoin, Ethereum, and other digital currencies. This incident adds to a series of impersonation scams targeting prominent figures like Elon Musk and others in the tech industry.