Cardano Founder Charles Hoskinson has introduced the formation of an internal action force aimed toward countering scammers. This comes as a report from fraud prevention firm Bolster showed cryptocurrency scams nearly doubled in 2020.
The Cardano Anti-Scam Task Force Nabs First Case
Last month, a frustrated Hoskinson hosted a live stream wherein he warned the Cardano network of giveaway scams. He reiterated the point, one made frequently before, that he nor Cardano will ever giveaway ADA.
“If you fall for this, you may lose your ADA, those are criminals, those are scammers, those are people who are trying to steal from you.
You don’t get some thing for free.
However, he did not expose the name of the fund at this time.
“We started conducting an investigation and the preliminary results indicate that that fund may actually be a scam.
So in two weeks time, we’re going to launch our first output of this internal working group. ”Crypto Scams Predicted to Get Worse in 2021Fraudsters are flocking to crypto as markets keep booming.Research carried out by Bolster confirms that cryptocurrency fraud is on the rise.
READ: Bitcoin Surges 6%, Touching $58,000
The firm points out that this is one of the maximum significant obstacles to mainstream success.
The firm predicts this figure will cross up by 75% for this year. Other key findings note that fake prizes, giveaways, or sweepstakes have been the most prolific sort of scam, with Bitcoin, Chainlink, and Ethereum being the top 3 most targetted tokens.
The Cardano anti-scam task force is a step in the proper direction.However, as Hoskinson mentioned, it’s no substitute for common sense.