Charles Hoskinson on Cardano’s Smart Contract: “We’ll be there in the next 90 days”
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The CEO of IOHK, Charles Hoskinson, who is also the creator of Cardano (ADA), has recently sent a note of warning to community members in order not to fall for the tricks of scammers.

According to Hoskinson in a new tweet on 7th February 2021, a number of emails were sent to him by supposed Cardano users or ADA holders, who are the victims of the giveaway scams. This resulted in a stern warning to the members of the community and the members of the crypto ecosystem at large.

Read Also: Charles Hoskinson Warns Users of Scammers; IOHK Will Never Run ADA ‘Giveaway’ Promotion

Hoskinson warned that he will never give away free ADA and whoever sends his/her hard-earned ADA to him will lose it forever. He added that he has been warning people for quite a long time, but they failed to listen due to greed.

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Charles Hoskinson tweeted, “I continue getting emails about giveaway scams- usually from the victims. Again I WILL NEVER GIVE AWAY FREE ADA. IF YOU SEND ADA, THEN YOU WILL LOSE IT!!! I keep saying it and people’s commonsense, greed and nativity set it. You don’t get something for nothing. Stop doing it.”

What Are Crypto or Giveaway Scams?

According to the Gemini exchange, there has been an increase in crypto scams as cryptocurrency gained popularity over the last year. Such is also expected to continue in 2021 due to the vast surge in crypto exposure across the world since the start of the year.

These scams take place when hackers compromise a social media account and post deceptive content in order to solicit cryptocurrency from the account’s followers or impersonate a popular celebrity using a fake account.

Read Also: Cardano’s Charles Hoskinson Reveals One Person That Fits Satoshi Nakamoto’s Profile

The deceptive content posted by these hackers usually references prominent crypto exchanges, celebrities, or business leaders in order to exploit the victim’s trust.

Some of these scammers usually promise their victims or potential victims double of the amount sent to a designated crypto wallet. So, due to greed, many have lost their assets with no hope of retrieval.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.