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The Cardano Foundation warns of suspicious activity in Japan

July 9, 2020

The Cardano Foundation, The organization behind the major cryptocurrency Cardano (ADA) warned that a suspicious company is trying to get investment by claiming it has contacts with the foundation.

The Foundation announced this on July 9 Someone who claims to be from or to be hired by the Caribbean cryptocurrency exchange BTCNEXT pretends to meet Cardano’s core members in person to ensure that the investments are safe.

It is unclear whether these people are really connected to BTCNEXT in any way. BTCNEXT did not immediately respond to Cointelegraph’s request for comment.

The Cardano Foundation warns of suspicious activity in JapanThe Cardano Foundation warns of suspicious activity in Japan

In any case, the Cardano Foundation makes it clear that it has no connection to the Caribbean exchange:

“Neither the Cardano Foundation nor any of its ecosystem partners are connected to BTCNEXT in any way, and they are in no way our partners.”

The Cardano Foundation warns their community

The Cardano Foundation also advised the community “to look for suspicious claims and to conduct thorough due diligence.” He also asked people not to send data to third parties claiming to be connected to their team or other entities in their ecosystem, and said, “We will never ask you to send us your (active) funds. “

The irreversible nature of cryptocurrency transactions makes crypto assets a popular choice among fraudsters. Because, in traditional financial systems, fraudsters must take special care to avoid transaction cancellations or bank account bans.

A recent report by the major crypto exchange Binance shows that fraudsters often do everything they can to gain investor confidence. For example, some fraudsters even create fake “consumer organizations” that squeeze victims for even more money after suspecting the organization is a fraud.