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Cardano Community Issues Crucial Warning to ADA Holders About New Scam

Xavier Jackson

ByXavier Jackson

Dec 17, 2023

The Cardano community is on high alert following a critical warning from a community member about a cryptocurrency scam targeting ADA holders. This scam, known as the Berry Pool scam event, has raised concerns within the community, prompting increased vigilance to safeguard against potential fraudulent activities.

Cardano Alerts Community to Berry Pool Scam Involving Fake NFTs and ADA Rewards

The Cardano Community has recently taken to its official X (formerly Twitter) account to issue an urgent scam warning. This alert is in response to a fraudulent Berry Pool scam event that’s been targeting the community’s members and ADA token holders. The aim of this warning is to heighten awareness about the potential dangers posed by these types of crypto scams.

Investigations have uncovered that the Berry Pool scam is enticing members of the Cardano community with counterfeit NFTs and misleading promises of ADA token rewards. The Cardano team alerted its users about this deceptive scheme, where some Berry Pool delegators were offered an NFT that falsely promised additional ADA rewards. 

The team emphasized the need for caution, noting that the website associated with this scam has been flagged as fraudulent. Regrettably, several users who interacted with the site, connecting their wallets and authorizing transactions, have already suffered significant losses, totaling over 200,000 ADA.

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In the wake of this scam warning, Cardano has urged its community to remain vigilant and cautious, especially regarding potential scam attempts originating from the mentioned fraudulent website. Additionally, Cardano advised investors to thoroughly review transaction summaries before confirming any transactions, as a measure to prevent falling prey to such scams.

The community’s response to these alerts has been one of gratitude, with many members appreciating Cardano for its proactive approach in raising awareness about these fraudulent activities. Despite these efforts, it has been reported that some members of the community were unfortunately deceived by the scam, leading to the accumulation of over 200,000 ADA tokens by the scammers.

Scam Attack Details Exposed by Cardano Community

A Cardano enthusiast known by the X handle, Jabi, has recently shared critical insights into the Berry Pool scam operation on social media. Jabi posted a screenshot revealing the total amount of ADA tokens amassed by the scammers. According to the information provided, the scammers have unlawfully accumulated a staggering 233,848 ADA, valued at over $143,000 at the time of the update.

Furthermore, another member of the crypto community has disclosed that the scammers used a DexHunter interface, which lacks an API, to illicitly exchange the stolen tokens for ADA. This community member noted that the attacker has not yet moved the acquired tokens to a Centralized Exchange (CEX), a common next step in such scams.

Currently, the identity of the scammer or scammers remains unknown. However, the community member made an appeal to the individuals behind the scam, referenced by the phrase “scam is my passion” seen on the Berry Pool scam website, urging them to return the stolen tokens while there is still an opportunity.

Xavier Jackson

Xavier Jackson

Xavier Jackson is a talented and versatile news writer with a knack for delivering compelling stories. With a dedication to accurate reporting and a captivating writing style, his articles provide readers with insightful and thought-provoking perspectives on current events.

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