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With Cardano Approaching $3, Charles Hoskinson Issues Scam Warning for Holders

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Mon, 08/23/2021 - 19:25
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Alex Dovbnya
Charles Hoskinson wants ADA holders to be extremely vigilant ahead of the upcoming smart contract launch
With Cardano Approaching $3, Charles Hoskinson Issues Scam Warning for Holders
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IOG CEO Charles Hoskinson has recorded another video, in which he warns the holders of Cardano (ADA) about the proliferation of scams and misinformation in the cryptocurrency space.

Hoskinson claims that there are about ten times as many giveaway scams compared to just a month ago because of ADA’s massive rally, adding that there are several fake applications on the Google Play app store.   

He expects them to continue growing for the foreseeable “month or two.” Hence, the cryptocurrency entrepreneur urges his followers to exercise caution and “slow things down”:

If someone is claiming you gonna to get great returns, if someone’s claiming you gonna give them your private keys or send them ADA for whatever reason, they are probably a scam…If you don’t know what to do, feel free to ask a question.

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No price predictions

Earlier today, ADA was a hair’s breadth away from hitting the $3 mark, peaking at $2.96, but you will never hear about where the token is heading next from its creator.

Hoskinson has stressed that he has never made a single price prediction “in his entire life.”   

However, the billionaire says that he was recently quoted in an article based on a fake video, in which the IOG boss supposedly forecasted that the ADA price would reach a ludicrous target of $150.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.