Fake Cardano ADA Wallet Is Being Marketed On Discord: Warning

A fake Cardano ADA wallet is being marketed on Discord so investors should beware of the fake one mimicking the real one-Daedalus as we are reading more about in today’s Cardano news.

A Reddit user outlined a fake website trying to mimic and promise even more features than the verified Cardano wallet Daedalus but the copycat has a different URL address. The user under the Reddit handles Tjaaark posted that a fake Cardano ADA wallet with a fake Daedalus website is being marketed on Discord. He advised users to be wary as the copycat had some notable differences from the verified one. For example, the one marketed on Discord has an URL ending with “.one” and in contrast, the original version ends with “io.”

Daedalus is a wallet named after an architect from Greek mythology and serves as a secure wallet for the ADA cryptocurrency. The fake one is marketed as an update from the verified version which comes with an identical website mimicking the official one perfectly. It promises even more features including the ability to convert digital assets into fiat currencies, robust performance, and enhanced speed. Cardano and its crypto ADA have been among the most popular projects in the digital asset space over the past year and the founder Charles Hoskinson vowed to provide even more specifics about the long-anticipated smart contracts launch. Maybe because of the Hype, ADA surged by 50% in the past week and it is up by 15% on a 24-hour scale and earlier broke above $2 for the first time since May.

The growing popularity seems to have caught the attention of some bad actors and investors have to be wary where they are storing their ADA tokens.

As recently reported, Cardano becomes the third biggest crypto as the native token increased by 13% over the past day and hit a 12-week high of $2.03 according to the data from CoinGecko. The asset gained 44.1% in value over the past week which makes it the bigger gainer on the market among the leading cryptocurrencies. The latest upward movement pushed the token’s market cap to $64.74 billion or 3.32% of the total value of crypto which resulted in ADA overtaking Tether as the third biggest crypto and going ahead of the Binance Coin as well. ADA is now changing hands at $2.03 with a 24-hour trading volume of over $6 billion. This is still some 20% away from the altcoin’s ATH of $2.45.